ING Groep (NYSE:ING) Shares Bought by Creative Planning

Posted by on Oct 12th, 2023

Creative Planning boosted its stake in shares of ING Groep (NYSE:ING – Free Report) by 28.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 140,376 shares of the financial services provider’s stock after buying an additional 31,366 shares during the period. Creative Planning’s holdings in ING Groep were worth $1,891,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ING. Envestnet Asset Management Inc. boosted its stake in ING Groep by 431.8% during the first quarter. Envestnet Asset Management Inc. now owns 8,064,109 shares of the financial services provider’s stock worth $19,106,000 after buying an additional 6,547,769 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of ING Groep by 64.0% in the 1st quarter. Bank of America Corp DE now owns 6,579,854 shares of the financial services provider’s stock valued at $78,103,000 after purchasing an additional 2,567,427 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of ING Groep by 4,412.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,823,310 shares of the financial services provider’s stock valued at $19,017,000 after purchasing an additional 1,782,900 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of ING Groep by 27.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 7,851,043 shares of the financial services provider’s stock valued at $77,882,000 after purchasing an additional 1,673,262 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of ING Groep by 3.0% in the 1st quarter. Fisher Asset Management LLC now owns 55,096,227 shares of the financial services provider’s stock valued at $653,992,000 after purchasing an additional 1,629,791 shares during the last quarter. Institutional investors and hedge funds own 4.41% of the company’s stock.

ING Groep Stock Performance

Shares of ING Groep stock opened at $13.65 on Thursday. The business’s fifty day simple moving average is $13.88 and its 200-day simple moving average is $13.36. ING Groep has a 52 week low of $8.38 and a 52 week high of $14.99. The company has a quick ratio of 1.09, a current ratio of 0.94 and a debt-to-equity ratio of 2.09. The firm has a market cap of $50.87 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of 0.15 and a beta of 1.59.

ING Groep (NYSE:ING – Get Free Report) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.10. ING Groep had a return on equity of 10.32% and a net margin of 28.40%. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.19 billion. Equities analysts forecast that ING Groep will post 2.27 earnings per share for the current year.

ING Groep Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 14th were issued a dividend of $0.4267 per share. This is an increase from ING Groep’s previous semi-annual dividend of $0.41. The ex-dividend date of this dividend was Friday, August 11th. This represents a yield of 5.2%. ING Groep’s dividend payout ratio is 38.46%.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on ING Groep in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.45.

Check Out Our Latest Analysis on ING

ING Groep Profile

(Free Report)

ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.

See Also

Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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