Royal Bank of Canada Purchases 31,963 Shares of ING Groep (NYSE:ING)

Royal Bank of Canada lifted its position in ING Groep (NYSE:ING) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,946,653 shares of the financial services provider’s stock after purchasing an additional 31,963 shares during the quarter. Royal Bank of Canada owned about 0.11% of ING Groep worth $61,844,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Huntington National Bank increased its stake in ING Groep by 1.7% in the fourth quarter. Huntington National Bank now owns 35,030 shares of the financial services provider’s stock valued at $549,000 after acquiring an additional 597 shares during the last quarter. IFP Advisors Inc increased its stake in ING Groep by 25.1% in the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 621 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in ING Groep by 20.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 665 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in ING Groep by 1.8% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 41,553 shares of the financial services provider’s stock valued at $651,000 after acquiring an additional 716 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in ING Groep by 5.2% in the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 722 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Groep Stock Performance

NYSE ING opened at $21.55 on Wednesday. The company has a 50-day simple moving average of $19.50 and a two-hundred day simple moving average of $17.52. 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 12-month low of $15.09 and a 12-month high of $22.28. The firm has a market cap of $75.39 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 6.42 and a beta of 1.15.

ING Groep (NYSE:ING) last posted its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. The business had revenue of $6.36 billion for the quarter, compared to analysts’ expectations of $5.74 billion. On average, equities analysts forecast that ING Groep will post 2.14 EPS for the current year.

ING Groep Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were given a dividend of $0.6526 per share. This represents a yield of 5.1%. This is a positive change from ING Groep’s previous semi-annual dividend of $0.17. The ex-dividend date of this dividend was Friday, April 25th. ING Groep’s dividend payout ratio is presently 64.45%.

Analysts Set New Price Targets

ING has been the topic of a number of research analyst reports. Cfra Research raised ING Groep from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, May 6th. The Goldman Sachs Group raised ING Groep from a “neutral” rating to a “buy” rating in a research note on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

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.