Boston Partners Takes Position in ING Groep (NYSE:ING)

Boston Partners bought a new position in ING Groep (NYSE:ING) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 128,952 shares of the financial services provider’s stock, valued at approximately $2,125,000.

A number of other hedge funds also recently made changes to their positions in ING. Financial Management Professionals Inc. grew its stake in shares of ING Groep by 67.8% in the 1st quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock worth $27,000 after buying an additional 662 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in ING Groep in the fourth quarter worth about $28,000. GAMMA Investing LLC bought a new stake in ING Groep during the fourth quarter worth approximately $54,000. NBC Securities Inc. raised its position in ING Groep by 24.5% during the fourth quarter. NBC Securities Inc. now owns 4,093 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 805 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in shares of ING Groep in the 1st quarter valued at approximately $67,000. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Barclays raised shares of ING Groep from an “equal weight” rating to an “overweight” rating in a research note on Friday, June 7th.

ING Groep Stock Down 0.8 %

Shares of NYSE ING traded down $0.13 during midday trading on Friday, reaching $17.09. 3,014,023 shares of the company’s stock traded hands, compared to its average volume of 1,682,998. The company has a market cap of $59.78 billion, a price-to-earnings ratio of 7.56 and a beta of 1.54. ING Groep has a one year low of $12.44 and a one year high of $18.66. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68. The stock’s 50 day simple moving average is $17.67 and its 200-day simple moving average is $16.18.

ING Groep (NYSE:ING) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.58 EPS for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.71%. The company had revenue of $6.15 billion during the quarter. During the same period in the previous year, the company earned $0.65 EPS. On average, analysts predict that ING Groep will post 2.02 EPS for the current fiscal year.

ING Groep Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, August 19th. Stockholders of record on Thursday, August 8th will be paid a dividend of $0.8143 per share. This is an increase from ING Groep’s previous semi-annual dividend of $0.70. This represents a dividend yield of 5.9%. The ex-dividend date is Thursday, August 8th. ING Groep’s payout ratio is presently 61.06%.

About ING Groep

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.