Legacy Financial Advisors Inc. Purchases Shares of 20,442 ING Group, N.V. $ING

Legacy Financial Advisors Inc. acquired a new position in shares of ING Group, N.V. (NYSE:ING) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 20,442 shares of the financial services provider’s stock, valued at approximately $533,000.

Other large investors have also modified their holdings of the company. Ashton Thomas Private Wealth LLC purchased a new position in shares of ING Group during the third quarter worth about $451,000. Capital Fund Management S.A. boosted its position in shares of ING Group by 14.7% in the 2nd quarter. Capital Fund Management S.A. now owns 612,511 shares of the financial services provider’s stock valued at $13,396,000 after purchasing an additional 78,622 shares during the period. Envestnet Asset Management Inc. grew its stake in ING Group by 4.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,990,736 shares of the financial services provider’s stock worth $51,918,000 after buying an additional 82,340 shares during the last quarter. Bank of New York Mellon Corp raised its position in ING Group by 64.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 467,898 shares of the financial services provider’s stock valued at $10,233,000 after purchasing an additional 183,891 shares during the last quarter. Finally, Logan Capital Management Inc. grew its position in ING Group by 11.0% during the 2nd quarter. Logan Capital Management Inc. now owns 220,820 shares of the financial services provider’s stock worth $4,829,000 after purchasing an additional 21,853 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Group Price Performance

Shares of NYSE:ING opened at $29.33 on Tuesday. ING Group, N.V. has a 52 week low of $16.47 and a 52 week high of $31.17. The company has a 50-day moving average price of $28.92 and a 200 day moving average price of $26.47. The company has a market cap of $85.37 billion, a P/E ratio of 12.27, a PEG ratio of 0.97 and a beta of 0.80. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.

ING Group (NYSE:ING) last released its earnings results on Thursday, January 29th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $6.67 billion. ING Group had a return on equity of 12.26% and a net margin of 27.50%. Research analysts predict that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be given a $0.8796 dividend. The ex-dividend date is Friday, April 17th. This represents a yield of 589.0%. ING Group’s dividend payout ratio is presently 28.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ING. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ING Group in a report on Monday, December 29th. Wall Street Zen upgraded ING Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Keefe, Bruyette & Woods cut ING Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, November 11th. Citigroup upgraded ING Group to a “strong-buy” rating in a research note on Friday, November 21st. Finally, Zacks Research upgraded ING Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, ING Group presently has a consensus rating of “Buy”.

ING Group Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.