Thoroughbred Financial Services LLC Acquires Shares of 11,898 ING Groep (NYSE:ING)

Thoroughbred Financial Services LLC bought a new position in ING Groep (NYSE:ING) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 11,898 shares of the financial services provider’s stock, valued at approximately $203,000.

Other large investors have also recently modified their holdings of the company. Financial Management Professionals Inc. raised its holdings in ING Groep by 67.8% in the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 662 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of ING Groep in the 2nd quarter worth about $31,000. Rothschild Investment LLC bought a new position in shares of ING Groep in the 2nd quarter worth about $31,000. Richardson Financial Services Inc. purchased a new position in ING Groep during the 4th quarter valued at about $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in ING Groep during the 2nd quarter valued at about $38,000. Institutional investors own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barclays upgraded ING Groep from an “equal weight” rating to an “overweight” rating in a research note on Friday, June 7th.

ING Groep Trading Up 0.9 %

Shares of NYSE:ING opened at $18.40 on Thursday. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12. ING Groep has a 1 year low of $12.44 and a 1 year high of $18.66. The company has a market cap of $64.37 billion, a P/E ratio of 8.14 and a beta of 1.52. The stock’s fifty day moving average price is $17.80 and its 200-day moving average price is $17.10.

ING Groep (NYSE:ING) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The business 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 firm posted $0.65 earnings per share. Sell-side analysts expect that ING Groep will post 2.02 earnings per share for the current year.

ING Groep Increases Dividend

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

ING Groep Company 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.