Mediolanum International Funds Ltd Acquires New Position in ING Groep (NYSE:ING)

Mediolanum International Funds Ltd bought a new position in shares of ING Groep (NYSE:ING) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 432,103 shares of the financial services provider’s stock, valued at approximately $7,972,000.

A number of other large investors have also recently modified their holdings of the business. Bank of New York Mellon Corp boosted its holdings in ING Groep by 150.1% in the second quarter. Bank of New York Mellon Corp now owns 599,012 shares of the financial services provider’s stock valued at $10,267,000 after acquiring an additional 359,535 shares during the last quarter. Benson Investment Management Company Inc. bought a new position in shares of ING Groep in the 3rd quarter worth $5,204,000. Acadian Asset Management LLC acquired a new position in shares of ING Groep during the second quarter valued at about $4,626,000. Raymond James & Associates increased its position in shares of ING Groep by 49.7% during the third quarter. Raymond James & Associates now owns 794,658 shares of the financial services provider’s stock worth $14,431,000 after acquiring an additional 263,904 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in ING Groep by 17.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 1,695,710 shares of the financial services provider’s stock valued at $27,962,000 after purchasing an additional 257,440 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ING. Barclays downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday. Citigroup upgraded ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th.

ING Groep Trading Down 0.1 %

Shares of ING Groep stock opened at $16.84 on Friday. The firm has a market cap of $58.91 billion, a PE ratio of 7.69, a P/E/G ratio of 6.58 and a beta of 1.52. ING Groep has a 1 year low of $12.44 and a 1 year high of $18.72. 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 stock has a fifty day moving average price of $17.77 and a 200-day moving average price of $17.45.

ING Groep (NYSE:ING) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The firm had revenue of $6.15 billion during the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same quarter in the prior year, the business earned $0.65 EPS. Equities research analysts anticipate that ING Groep will post 2.06 EPS for the current year.

ING Groep Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 19th. Stockholders of record on Thursday, August 8th were issued a $0.8143 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a dividend yield of 5.9%. This is a boost from ING Groep’s previous semi-annual dividend of $0.70. ING Groep’s dividend payout ratio is presently 29.68%.

ING Groep 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.