Concurrent Investment Advisors LLC Purchases 3,499 Shares of ING Group, N.V. $ING

Concurrent Investment Advisors LLC increased its position in ING Group, N.V. (NYSE:ING) by 25.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,491 shares of the financial services provider’s stock after purchasing an additional 3,499 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in ING Group were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ING. Legacy Advisors LLC bought a new position in ING Group in the first quarter worth $28,000. SBI Securities Co. Ltd. boosted its holdings in shares of ING Group by 135.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider’s stock valued at $31,000 after buying an additional 912 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of ING Group in the 2nd quarter worth about $37,000. Maseco LLP bought a new position in shares of ING Group in the 2nd quarter worth about $48,000. Finally, Olde Wealth Management LLC bought a new position in shares of ING Group in the 1st quarter worth about $55,000. 4.49% of the stock is currently owned by institutional investors.

ING Group Price Performance

Shares of ING opened at $24.09 on Friday. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $26.27. The company has a market capitalization of $75.81 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 1.73 and a beta of 1.07. The firm has a 50 day moving average of $24.83 and a 200 day moving average of $22.35. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83.

ING Group (NYSE:ING) last released its quarterly earnings data 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. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. As a group, equities research analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on ING. Cfra Research raised shares of ING Group from a “hold” rating to a “moderate buy” rating in a research note on Thursday, September 25th. Weiss Ratings lowered shares of ING Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Morgan Stanley raised ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Barclays upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

About ING Group

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.