Pzena Investment Management LLC Buys 640 Shares of ING Groep (NYSE:ING)

Pzena Investment Management LLC increased its stake in ING Groep (NYSE:ING) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,810 shares of the financial services provider’s stock after acquiring an additional 640 shares during the quarter. Pzena Investment Management LLC’s holdings in ING Groep were worth $922,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ING. Fisher Asset Management LLC increased its stake in ING Groep by 8.5% during the 4th quarter. Fisher Asset Management LLC now owns 63,677,437 shares of the financial services provider’s stock valued at $956,435,000 after purchasing an additional 4,995,615 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in ING Groep by 2,566.3% during the 4th quarter. BNP Paribas Financial Markets now owns 894,059 shares of the financial services provider’s stock worth $13,429,000 after acquiring an additional 860,527 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in ING Groep by 96.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,332,957 shares of the financial services provider’s stock worth $20,021,000 after acquiring an additional 655,011 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in ING Groep by 7.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock worth $128,693,000 after acquiring an additional 622,037 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in ING Groep by 150.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 599,012 shares of the financial services provider’s stock worth $10,267,000 after acquiring an additional 359,535 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Groep Price Performance

ING opened at $17.79 on Thursday. The firm’s fifty day moving average price is $17.73 and its two-hundred day moving average price is $16.80. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12. The company has a market capitalization of $62.23 billion, a price-to-earnings ratio of 7.87 and a beta of 1.52. ING Groep has a 1 year low of $12.44 and a 1 year high of $18.66.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The company had revenue of $6.15 billion for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same period last year, the firm posted $0.65 earnings per share. As a group, analysts anticipate that ING Groep will post 2.02 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 19th. Investors of record on Thursday, August 8th were issued a $0.8143 dividend. This is an increase from ING Groep’s previous semi-annual dividend of $0.70. This represents a dividend yield of 5.9%. The ex-dividend date of this dividend was Thursday, August 8th. ING Groep’s payout ratio is 28.32%.

Analyst Ratings Changes

Separately, Barclays raised shares of ING Groep from an “equal weight” rating to an “overweight” rating in a report on Friday, June 7th.

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.