PNC Financial Services Group Inc. grew its position in ING Groep NV (NYSE:ING) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,925 shares of the financial services provider’s stock after purchasing an additional 1,865 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ING Groep were worth $873,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. First Trust Advisors LP grew its position in shares of ING Groep by 14.2% during the third quarter. First Trust Advisors LP now owns 56,969 shares of the financial services provider’s stock valued at $739,000 after purchasing an additional 7,077 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in ING Groep in the third quarter worth about $136,000. Engineers Gate Manager LP purchased a new position in ING Groep in the third quarter worth about $189,000. Comerica Bank grew its position in ING Groep by 5.7% in the third quarter. Comerica Bank now owns 235,835 shares of the financial services provider’s stock worth $2,802,000 after acquiring an additional 12,739 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in ING Groep by 33.0% in the third quarter. Wells Fargo & Company MN now owns 3,972,856 shares of the financial services provider’s stock worth $51,528,000 after acquiring an additional 986,601 shares in the last quarter. Institutional investors and hedge funds own 3.34% of the company’s stock.
Several research analysts recently commented on ING shares. Zacks Investment Research lowered ING Groep from a “hold” rating to a “sell” rating in a research report on Wednesday, December 5th. Goldman Sachs Group reaffirmed a “buy” rating on shares of ING Groep in a research note on Wednesday, December 19th. ValuEngine raised shares of ING Groep from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Credit Suisse Group raised shares of ING Groep from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 15th. Finally, Societe Generale raised shares of ING Groep from a “hold” rating to a “buy” rating in a research note on Wednesday, January 16th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold”.
ING Groep (NYSE:ING) last issued its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter. The company had revenue of $5.14 billion for the quarter. ING Groep had a net margin of 26.05% and a return on equity of 9.19%. On average, sell-side analysts predict that ING Groep NV will post 1.53 EPS for the current year.
The firm also recently disclosed a semiannual dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a dividend of $0.4974 per share. This represents a yield of 8.31%. The ex-dividend date of this dividend is Thursday, April 25th. ING Groep’s payout ratio is 26.83%.
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About ING Groep
ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.
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