Abundance Wealth Counselors Purchases 2,778 Shares of ING Group, N.V. $ING

Abundance Wealth Counselors grew its position in shares of ING Group, N.V. (NYSE:ING) by 5.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 58,808 shares of the financial services provider’s stock after acquiring an additional 2,778 shares during the period. Abundance Wealth Counselors’ holdings in ING Group were worth $1,286,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of ING Group by 2.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,894,501 shares of the financial services provider’s stock valued at $154,653,000 after purchasing an additional 185,506 shares during the last quarter. Northern Trust Corp increased its position in shares of ING Group by 4.4% during the 1st quarter. Northern Trust Corp now owns 4,342,916 shares of the financial services provider’s stock valued at $85,078,000 after purchasing an additional 181,800 shares during the last quarter. Natixis Advisors LLC increased its position in shares of 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 purchasing an additional 869,281 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of ING Group during the 1st quarter valued at about $36,062,000. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of ING Group by 0.3% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 1,780,630 shares of the financial services provider’s stock valued at $34,882,000 after purchasing an additional 6,200 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ING shares. Barclays upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 15th. Cfra Research upgraded ING Group from a “hold” rating to a “moderate buy” rating in a research report on Thursday, September 25th. Finally, Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, ING Group has an average rating of “Buy”.

ING Group Price Performance

ING opened at $25.78 on Friday. The stock’s 50 day simple moving average is $24.60 and its 200 day simple moving average is $21.99. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.12 and a quick ratio of 1.12. ING Group, N.V. has a 1 year low of $15.09 and a 1 year high of $26.27. The firm has a market cap of $81.12 billion, a price-to-earnings ratio of 11.88, a PEG ratio of 1.88 and a beta of 1.07.

ING Group (NYSE:ING) last posted 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. ING Group had a return on equity of 11.62% and a net margin of 27.28%.The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.40 billion. As a group, analysts predict that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a dividend of $0.4002 per share. This represents a yield of 450.0%. The ex-dividend date was Monday, August 11th. ING Group’s dividend payout ratio (DPR) 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.