Citigroup Inc. Increases Holdings in ING Group, N.V. $ING

Citigroup Inc. raised its stake in ING Group, N.V. (NYSE:ING) by 249.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,047,717 shares of the financial services provider’s stock after purchasing an additional 1,462,527 shares during the quarter. Citigroup Inc.’s holdings in ING Group were worth $53,404,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amundi acquired a new stake in shares of ING Group in the first quarter valued at about $760,000. AQR Capital Management LLC boosted its holdings in ING Group by 27.0% in the 1st quarter. AQR Capital Management LLC now owns 87,240 shares of the financial services provider’s stock worth $1,709,000 after acquiring an additional 18,562 shares during the period. Integrated Wealth Concepts LLC grew its position in ING Group by 5.4% in the first quarter. Integrated Wealth Concepts LLC now owns 21,329 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 1,094 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of ING Group by 19.5% during the second quarter. Sivia Capital Partners LLC now owns 16,823 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 2,745 shares during the period. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of ING Group during the second quarter worth $219,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Group Trading Down 1.6%

Shares of NYSE ING opened at $29.33 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The stock’s 50 day moving average price is $28.92 and its two-hundred day moving average price is $26.47. ING Group, N.V. has a 52-week low of $16.47 and a 52-week high of $31.17. The stock has a market capitalization of $85.37 billion, a P/E ratio of 12.27, a PEG ratio of 0.97 and a beta of 0.80.

ING Group (NYSE:ING) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. The business had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $6.67 billion. ING Group had a return on equity of 12.26% and a net margin of 27.50%. On average, analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be paid a dividend of $0.8796 per share. The ex-dividend date is Friday, April 17th. This represents a yield of 589.0%. ING Group’s payout ratio is presently 28.87%.

Analyst Ratings Changes

ING has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of ING Group from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research report on Monday, December 29th. Citigroup raised ING Group to a “strong-buy” rating in a research report on Friday, November 21st. Keefe, Bruyette & Woods cut ING Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, November 11th. Finally, Deutsche Bank Aktiengesellschaft raised ING Group from a “hold” rating to a “buy” rating in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, ING Group currently has a consensus rating of “Buy”.

ING Group Company Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.