US Bancorp DE Grows Stake in ING Group, N.V. $ING

US Bancorp DE increased its holdings in shares of ING Group, N.V. (NYSE:ING) by 36.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 381,002 shares of the financial services provider’s stock after purchasing an additional 101,364 shares during the quarter. US Bancorp DE’s holdings in ING Group were worth $9,937,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ING. Abound Wealth Management raised its holdings in ING Group by 2,757.6% during the third quarter. Abound Wealth Management now owns 943 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 910 shares in the last quarter. Salomon & Ludwin LLC grew its position in shares of ING Group by 2,440.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 1,245 shares of the financial services provider’s stock valued at $32,000 after buying an additional 1,196 shares during the last quarter. Root Financial Partners LLC acquired a new stake in ING Group during the 3rd quarter worth $34,000. Rexford Capital Inc. acquired a new stake in ING Group during the 2nd quarter worth $33,000. Finally, Private Trust Co. NA lifted its position in ING Group by 210.3% in the third quarter. Private Trust Co. NA now owns 1,626 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 1,102 shares during the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Group Stock Down 2.6%

ING Group stock opened at $28.75 on Friday. The stock has a 50 day moving average of $29.05 and a two-hundred day moving average of $26.59. ING Group, N.V. has a twelve month low of $16.47 and a twelve month high of $31.17. The stock has a market capitalization of $83.66 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 0.94 and a beta of 0.80. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.99.

ING Group (NYSE:ING) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.50 by $0.06. ING Group had a return on equity of 12.26% and a net margin of 27.50%.The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $6.67 billion. As a group, research analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Dividend Announcement

The company also recently declared a dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 17th will be issued a dividend of $0.8796 per share. This represents a yield of 589.0%. The ex-dividend date of this dividend is Friday, April 17th. ING Group’s dividend payout ratio is currently 28.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ING shares. Deutsche Bank Aktiengesellschaft raised ING Group from a “hold” rating to a “buy” rating in a report on Monday, February 2nd. Jefferies Financial Group started coverage on ING Group in a research report on Tuesday, January 27th. They issued a “hold” rating for the company. Zacks Research raised ING Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research note on Monday, December 29th. Finally, Keefe, Bruyette & Woods downgraded ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

ING Group Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.