Simplicity Wealth LLC Buys Shares of 18,858 ING Group, N.V. $ING

Simplicity Wealth LLC bought a new stake in ING Group, N.V. (NYSE:ING) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 18,858 shares of the financial services provider’s stock, valued at approximately $412,000.

Other hedge funds have also recently bought and sold shares of the company. Legacy Advisors LLC bought a new position in ING Group in the 1st quarter valued at about $28,000. SBI Securities Co. Ltd. boosted its stake in shares of ING Group by 135.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 912 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of ING Group in the 2nd quarter valued at approximately $37,000. Maseco LLP acquired a new stake in shares of ING Group in the 2nd quarter valued at approximately $48,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of ING Group in the 1st quarter valued at approximately $55,000. 4.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 2nd. Weiss Ratings downgraded shares of ING Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Cfra Research upgraded shares of ING Group from a “hold” rating to a “moderate buy” rating in a research note on Thursday, September 25th. Finally, Barclays upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy”.

ING Group Stock Down 0.2%

Shares of NYSE ING opened at $24.42 on Thursday. The company has a market capitalization of $76.86 billion, a P/E 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 52-week low of $15.09 and a 52-week high of $26.27. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. The company’s 50 day moving average price is $24.72 and its 200-day moving average price is $22.12.

ING Group (NYSE:ING) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. Equities analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Cuts Dividend

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

ING Group 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.