Advisory Services Network LLC raised its stake in shares of ING Groep NV (NYSE:ING) by 63.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,896 shares of the financial services provider’s stock after purchasing an additional 12,425 shares during the quarter. Advisory Services Network LLC’s holdings in ING Groep were worth $589,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of ING. Fisher Asset Management LLC increased its position in ING Groep by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 38,178,130 shares of the financial services provider’s stock valued at $703,241,000 after purchasing an additional 2,168,788 shares during the period. Chevy Chase Trust Holdings Inc. purchased a new position in ING Groep during the 3rd quarter valued at $22,685,000. Assetmark Inc. increased its position in ING Groep by 5,421.5% during the 3rd quarter. Assetmark Inc. now owns 711,665 shares of the financial services provider’s stock valued at $13,109,000 after purchasing an additional 698,776 shares during the period. Guardian Capital LP purchased a new stake in shares of ING Groep in the 3rd quarter worth about $10,210,000. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of ING Groep in the 3rd quarter worth about $6,971,000. 3.15% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of ING Groep from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Friday, February 9th. ValuEngine raised shares of ING Groep from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. UBS Group reaffirmed a “buy” rating on shares of ING Groep in a research report on Monday, December 11th. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of ING Groep in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.00.
The firm also recently announced a semiannual dividend, which will be paid on Friday, May 11th. Stockholders of record on Thursday, April 26th will be given a $0.5344 dividend. The ex-dividend date of this dividend is Wednesday, April 25th. This is an increase from ING Groep’s previous semiannual dividend of $0.45. This represents a dividend yield of 5.77%. ING Groep’s dividend payout ratio is currently 38.85%.
ING Groep Profile
ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.
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