Connor Clark & Lunn Investment Management Ltd. Grows Stock Holdings in ING Group, N.V. (NYSE:ING)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in ING Group, N.V. (NYSE:ING) by 21.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 209,771 shares of the financial services provider’s stock after acquiring an additional 37,704 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in ING Group were worth $4,109,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Kestra Private Wealth Services LLC boosted its holdings in shares of ING Group by 4.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 12,705 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 530 shares during the last quarter. Wedmont Private Capital boosted its position in ING Group by 6.5% in the 1st quarter. Wedmont Private Capital now owns 11,415 shares of the financial services provider’s stock worth $208,000 after purchasing an additional 693 shares in the last quarter. Drive Wealth Management LLC boosted its position in ING Group by 6.5% in the 1st quarter. Drive Wealth Management LLC now owns 11,609 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 707 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in ING Group by 1.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 62,657 shares of the financial services provider’s stock worth $1,227,000 after purchasing an additional 786 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its position in ING Group by 21.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 897 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ING has been the topic of several recent research reports. Barclays upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 15th. Cfra Research upgraded ING Group from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

ING Group Trading Up 1.3%

Shares of NYSE:ING opened at $24.78 on Thursday. ING Group, N.V. has a 1 year low of $15.09 and a 1 year high of $24.80. The firm has a market capitalization of $77.99 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.76 and a beta of 1.14. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.12 and a quick ratio of 1.12. The business’s 50 day moving average price is $22.43 and its 200-day moving average price is $20.21.

ING Group (NYSE:ING) last announced its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.40 billion. On average, equities research analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be given a dividend of $0.4002 per share. The ex-dividend date is Monday, August 11th. This represents a dividend yield of 450.0%. ING Group’s dividend payout ratio (DPR) is 31.80%.

ING Group Company 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.