Bank of America Corp DE Raises Stake in ING Groep NV (ING)

Bank of America Corp DE increased its position in shares of ING Groep NV (NYSE:ING) by 5.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,242,046 shares of the financial services provider’s stock after acquiring an additional 555,940 shares during the quarter. Bank of America Corp DE owned about 0.26% of ING Groep worth $146,666,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ING. Fisher Asset Management LLC increased its holdings in ING Groep by 4.0% in the second quarter. Fisher Asset Management LLC now owns 43,296,870 shares of the financial services provider’s stock valued at $620,011,000 after purchasing an additional 1,679,519 shares during the last quarter. UBS Group AG increased its holdings in ING Groep by 102.6% in the first quarter. UBS Group AG now owns 2,454,246 shares of the financial services provider’s stock valued at $41,550,000 after purchasing an additional 1,242,824 shares during the last quarter. Boston Partners bought a new stake in ING Groep in the second quarter valued at about $13,716,000. BlackRock Inc. increased its holdings in ING Groep by 4,207.1% in the second quarter. BlackRock Inc. now owns 630,650 shares of the financial services provider’s stock valued at $9,033,000 after purchasing an additional 616,008 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new stake in ING Groep in the first quarter valued at about $7,468,000. 3.54% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on the company. ValuEngine downgraded ING Groep from a “sell” rating to a “strong sell” rating in a report on Tuesday, September 4th. Zacks Investment Research upgraded ING Groep from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. downgraded ING Groep from an “overweight” rating to a “neutral” rating in a report on Monday, September 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $21.00.

NYSE ING opened at $12.86 on Friday. The stock has a market capitalization of $49.16 billion, a P/E ratio of 8.93, a P/E/G ratio of 1.19 and a beta of 1.27. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.29. ING Groep NV has a 12 month low of $12.56 and a 12 month high of $20.58.

ING Groep (NYSE:ING) last announced its quarterly earnings results on Thursday, August 2nd. The financial services provider reported $0.44 earnings per share (EPS) for the quarter. ING Groep had a return on equity of 10.28% and a net margin of 28.47%. The company had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.06 billion. equities research analysts predict that ING Groep NV will post 1.57 EPS for the current year.

The firm also recently declared a special dividend, which was paid on Tuesday, August 21st. Shareholders of record on Monday, August 13th were issued a $0.2799 dividend. The ex-dividend date of this dividend was Friday, August 10th. This represents a dividend yield of 6.86%. ING Groep’s dividend payout ratio (DPR) is currently 30.56%.

About ING Groep

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.

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Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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