Bank of Montreal Can Grows Stock Position in ING Groep (NYSE:ING)

Bank of Montreal Can raised its holdings in shares of ING Groep (NYSE:ING) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 487,778 shares of the financial services provider’s stock after acquiring an additional 28,837 shares during the quarter. Bank of Montreal Can’s holdings in ING Groep were worth $7,643,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of ING Groep during the 4th quarter worth approximately $14,375,000. Guardian Partners Inc. acquired a new position in shares of ING Groep in the fourth quarter worth $11,730,000. ABC Arbitrage SA purchased a new stake in shares of ING Groep in the fourth quarter valued at $10,129,000. Massachusetts Financial Services Co. MA boosted its stake in shares of ING Groep by 147.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 331,182 shares of the financial services provider’s stock valued at $5,190,000 after acquiring an additional 197,509 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in ING Groep by 88.3% during the 4th quarter. Franklin Resources Inc. now owns 290,796 shares of the financial services provider’s stock worth $4,557,000 after purchasing an additional 136,342 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised shares of ING Groep from a “neutral” rating to a “buy” rating in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

ING Groep Trading Up 4.7 %

Shares of ING Groep stock opened at $18.24 on Monday. The firm has a market cap of $63.79 billion, a PE ratio of 8.52, a P/E/G ratio of 6.42 and a beta of 1.07. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. ING Groep has a fifty-two week low of $15.09 and a fifty-two week high of $20.79. The business’s fifty day moving average is $18.44 and its two-hundred day moving average is $17.03.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. Analysts anticipate that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.6526 per share. The ex-dividend date is Friday, April 25th. This represents a yield of 5.1%. This is an increase from ING Groep’s previous semi-annual dividend of $0.17. ING Groep’s dividend payout ratio (DPR) is currently 60.75%.

ING Groep 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.