ING Group, N.V. $ING Shares Acquired by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. increased its position in ING Group, N.V. (NYSE:ING) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,894,501 shares of the financial services provider’s stock after acquiring an additional 185,506 shares during the period. Goldman Sachs Group Inc.’s holdings in ING Group were worth $154,653,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Millennium Management LLC grew its holdings in shares of ING Group by 197.6% in the 1st quarter. Millennium Management LLC now owns 1,667,239 shares of the financial services provider’s stock worth $32,661,000 after acquiring an additional 1,106,926 shares during the period. Integrated Wealth Concepts LLC grew its holdings in shares of ING Group by 5.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 21,329 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 1,094 shares during the period. Hancock Whitney Corp grew its holdings in shares of ING Group by 35.9% in the 1st quarter. Hancock Whitney Corp now owns 47,480 shares of the financial services provider’s stock worth $930,000 after acquiring an additional 12,554 shares during the period. Curi RMB Capital LLC acquired a new stake in shares of ING Group in the 1st quarter worth approximately $6,833,000. Finally, AQR Capital Management LLC grew its holdings in shares of ING Group by 27.0% in the 1st quarter. AQR Capital Management LLC now owns 87,240 shares of the financial services provider’s stock worth $1,709,000 after acquiring an additional 18,562 shares during the period. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Barclays upgraded ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 15th. Morgan Stanley raised ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

ING Group Trading Up 1.3%

Shares of ING Group stock opened at $25.10 on Friday. ING Group, N.V. has a fifty-two week low of $15.09 and a fifty-two week high of $25.12. The firm has a market cap of $79.00 billion, a PE ratio of 11.57, a P/E/G ratio of 1.78 and a beta of 1.10. The business’s fifty day moving average is $23.76 and its two-hundred day moving average is $21.31. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83.

ING Group (NYSE:ING) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. ING Group had a return on equity of 11.62% and a net margin of 27.28%.The company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.40 billion. Analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were paid a dividend of $0.4002 per share. This represents a dividend yield of 450.0%. The ex-dividend date of this dividend was Monday, August 11th. ING Group’s dividend payout ratio is currently 31.80%.

ING Group Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.