Concurrent Investment Advisors LLC Buys 3,499 Shares of ING Group, N.V. $ING

Concurrent Investment Advisors LLC increased its stake in ING Group, N.V. (NYSE:ING) by 25.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 17,491 shares of the financial services provider’s stock after buying an additional 3,499 shares during the period. Concurrent Investment Advisors LLC’s holdings in ING Group were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ING. Legacy Advisors LLC bought a new position in shares of ING Group during the 1st quarter valued at $28,000. SBI Securities Co. Ltd. grew its holdings in shares of ING Group by 135.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 912 shares during the period. V Square Quantitative Management LLC purchased a new stake in ING Group during the second quarter valued at $37,000. Maseco LLP bought a new position in ING Group in the second quarter valued at about $48,000. Finally, Olde Wealth Management LLC bought a new position in ING Group in the first quarter valued at about $55,000. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

ING Group Trading Down 1.2%

ING Group stock opened at $24.09 on Friday. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $26.27. The firm has a market capitalization of $75.81 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 1.73 and a beta of 1.07. The firm has a 50 day moving average of $24.83 and a 200 day moving average of $22.35. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83.

ING Group (NYSE:ING) last posted 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. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. As a group, research analysts predict 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 $0.4002 dividend. This represents a yield of 450.0%. The ex-dividend date was Monday, August 11th. ING Group’s dividend payout ratio is presently 31.80%.

About ING Group

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.