Abel Hall LLC Invests $210,000 in ING Group, N.V. $ING

Abel Hall LLC acquired a new stake in shares of ING Group, N.V. (NYSE:ING) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,581 shares of the financial services provider’s stock, valued at approximately $210,000.

A number of other hedge funds also recently bought and sold shares of the company. Valeo Financial Advisors LLC increased its position in ING Group by 5.8% during the second quarter. Valeo Financial Advisors LLC now owns 14,718 shares of the financial services provider’s stock valued at $322,000 after acquiring an additional 808 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in ING Group during the second quarter valued at $412,000. Ascent Group LLC increased its position in ING Group by 16.9% during the second quarter. Ascent Group LLC now owns 12,484 shares of the financial services provider’s stock valued at $273,000 after acquiring an additional 1,801 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in ING Group during the second quarter valued at $98,000. Finally, Abundance Wealth Counselors increased its position in ING Group by 5.0% during the second quarter. Abundance Wealth Counselors now owns 58,808 shares of the financial services provider’s stock valued at $1,286,000 after acquiring an additional 2,778 shares during the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Analysts Set New Price Targets

ING has been the subject of a number of research reports. Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 2nd. Cfra Research raised ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. Weiss Ratings lowered ING Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Finally, Barclays raised ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

ING Group Stock Down 0.2%

Shares of ING opened at $24.42 on Thursday. The business’s 50 day moving average is $24.72 and its 200 day moving average is $22.12. The company has a market capitalization of $76.86 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.76 and a beta of 1.07. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $26.27. 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 issued its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. Research analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were paid a dividend of $0.4002 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a yield of 450.0%. ING Group’s dividend payout ratio is presently 31.80%.

ING Group 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.