ING Group, N.V. $ING Shares Acquired by Pzena Investment Management LLC

Pzena Investment Management LLC lifted its stake in shares of ING Group, N.V. (NYSE:ING) by 11.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,268 shares of the financial services provider’s stock after buying an additional 5,791 shares during the quarter. Pzena Investment Management LLC’s holdings in ING Group were worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in ING. Goldman Sachs Group Inc. lifted its stake in ING Group by 2.4% during the first quarter. Goldman Sachs Group Inc. now owns 7,894,501 shares of the financial services provider’s stock worth $154,653,000 after purchasing an additional 185,506 shares during the last quarter. Northern Trust Corp lifted its stake in ING Group by 4.4% during the first quarter. Northern Trust Corp now owns 4,342,916 shares of the financial services provider’s stock worth $85,078,000 after purchasing an additional 181,800 shares during the last quarter. Natixis Advisors LLC lifted its stake in ING Group by 25.7% during the first quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider’s stock worth $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 ING Group during the first quarter worth $36,062,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in ING Group by 0.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,780,630 shares of the financial services provider’s stock worth $34,882,000 after purchasing an additional 6,200 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 2nd. Weiss Ratings cut ING Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Barclays upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. Finally, Cfra Research upgraded ING Group from a “hold” rating to a “moderate buy” rating in a research note on Thursday, September 25th. 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 stock. Based on data from MarketBeat, ING Group currently has an average rating of “Buy”.

ING Group Stock Performance

ING stock opened at $24.34 on Tuesday. 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 stock has a market capitalization of $76.59 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.72 and a beta of 1.07. ING Group, N.V. has a 1 year low of $15.09 and a 1 year high of $26.27. The stock’s fifty day moving average is $24.79 and its two-hundred day moving average is $22.23.

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

ING Group Cuts Dividend

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