Redwood Investments LLC Acquires Shares of 2,598 ING Groep (NYSE:ING)

Redwood Investments LLC purchased a new position in shares of ING Groep (NYSE:ING) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 2,598 shares of the financial services provider’s stock, valued at approximately $41,000.

Several other hedge funds have also recently modified their holdings of the stock. Point72 Asset Management L.P. raised its holdings in ING Groep by 270.2% during the fourth quarter. Point72 Asset Management L.P. now owns 87,815 shares of the financial services provider’s stock worth $1,376,000 after purchasing an additional 64,097 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of ING Groep by 27.3% during the fourth quarter. Quantinno Capital Management LP now owns 394,878 shares of the financial services provider’s stock worth $6,188,000 after purchasing an additional 84,613 shares during the last quarter. Pathstone Holdings LLC lifted its holdings in shares of ING Groep by 6.1% during the 4th quarter. Pathstone Holdings LLC now owns 554,854 shares of the financial services provider’s stock worth $8,695,000 after acquiring an additional 32,061 shares during the period. Millennium Management LLC increased its position in ING Groep by 671.8% during the fourth quarter. Millennium Management LLC now owns 560,313 shares of the financial services provider’s stock worth $8,780,000 after purchasing an additional 487,716 shares during the last quarter. Finally, Logan Capital Management Inc. raised its position in shares of ING Groep by 0.8% in the 4th quarter. Logan Capital Management Inc. now owns 194,379 shares of the financial services provider’s stock worth $3,046,000 after buying an additional 1,520 shares during the period. 4.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ING has been the topic of several recent research reports. Cfra Research upgraded shares of ING Groep from a “moderate sell” rating to a “hold” rating in a report on Tuesday, May 6th. The Goldman Sachs Group raised shares of ING Groep from a “neutral” rating to a “buy” rating in a research report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, ING Groep currently has a consensus rating of “Moderate Buy”.

ING Groep Stock Performance

Shares of ING opened at $21.10 on Thursday. ING Groep has a 12-month low of $15.09 and a 12-month high of $21.15. The firm’s 50 day moving average is $19.39 and its 200-day moving average is $17.39. The stock has a market capitalization of $73.81 billion, a P/E ratio of 9.86, a P/E/G ratio of 6.42 and a beta of 1.15. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13.

ING Groep (NYSE:ING) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. The business had revenue of $6.36 billion for the quarter, compared to analyst estimates of $5.74 billion. Equities research analysts anticipate that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, April 25th. This represents a yield of 5.1%. This is a boost from ING Groep’s previous semi-annual dividend of $0.17. ING Groep’s dividend payout ratio is presently 64.45%.

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.