Envestnet Asset Management Inc. Buys 1,455 Shares of ING Groep (NYSE:ING)

Envestnet Asset Management Inc. grew its position in shares of ING Groep (NYSE:ING) by 0.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,019,828 shares of the financial services provider’s stock after buying an additional 1,455 shares during the period. Envestnet Asset Management Inc.’s holdings in ING Groep were worth $31,651,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in ING Groep during the 4th quarter worth about $14,375,000. State Street Corp lifted its holdings in shares of ING Groep by 1.3% in the third quarter. State Street Corp now owns 358,479 shares of the financial services provider’s stock worth $6,510,000 after buying an additional 4,542 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of ING Groep by 18.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 92,045 shares of the financial services provider’s stock valued at $1,442,000 after acquiring an additional 14,476 shares during the period. ABC Arbitrage SA purchased a new position in ING Groep during the fourth quarter valued at approximately $10,129,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in ING Groep by 97.4% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 51,922 shares of the financial services provider’s stock worth $814,000 after acquiring an additional 25,624 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised ING Groep from a “neutral” rating to a “buy” rating in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

ING Groep Trading Up 4.7 %

Shares of ING Groep stock opened at $18.24 on Friday. 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 has a 1 year low of $15.09 and a 1 year high of $20.79. The firm has a market cap of $63.79 billion, a PE ratio of 8.52, a PEG ratio of 6.42 and a beta of 1.07. The company has a 50 day simple moving average of $18.44 and a two-hundred day simple moving average of $17.04.

ING Groep (NYSE:ING) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. Analysts expect that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a dividend of $0.6526 per share. The ex-dividend date of this dividend is Friday, April 25th. This is a positive change from ING Groep’s previous semi-annual dividend of $0.17. This represents a dividend yield of 5.1%. ING Groep’s dividend payout ratio is 60.75%.

About ING Groep

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.