ING Group, N.V. $ING Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its holdings in shares of ING Group, N.V. (NYSE:ING) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,309 shares of the financial services provider’s stock after acquiring an additional 532 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in ING Group were worth $379,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ING. Price T Rowe Associates Inc. MD acquired a new stake in ING Group during the 1st quarter valued at approximately $36,062,000. Millennium Management LLC lifted its stake in ING Group by 197.6% during the 1st quarter. Millennium Management LLC now owns 1,667,239 shares of the financial services provider’s stock valued at $32,661,000 after acquiring an additional 1,106,926 shares during the period. Natixis Advisors LLC lifted its stake in ING Group by 25.7% during the 1st quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider’s stock valued at $83,274,000 after acquiring an additional 869,281 shares during the period. National Bank of Canada FI lifted its stake in ING Group by 1,434.0% during the 1st quarter. National Bank of Canada FI now owns 405,101 shares of the financial services provider’s stock valued at $7,932,000 after acquiring an additional 378,693 shares during the period. Finally, Curi RMB Capital LLC acquired a new position in shares of ING Group in the 1st quarter valued at $6,833,000. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ING shares. Weiss Ratings cut shares of ING Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Barclays upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. Cfra Research upgraded shares of ING Group from a “hold” rating to a “moderate buy” rating in a research note on Thursday, September 25th. Finally, Morgan Stanley upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 2nd. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

ING Group Stock Up 0.6%

Shares of ING opened at $23.80 on Thursday. The stock has a market capitalization of $74.89 billion, a PE ratio of 10.97, a P/E/G ratio of 1.70 and a beta of 1.07. ING Group, N.V. has a 1 year low of $15.09 and a 1 year high of $26.27. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. The company’s 50-day simple moving average is $24.79 and its 200-day simple moving average is $22.43.

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

ING Group Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a $0.4002 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a 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.