Sterling Capital Management LLC Raises Holdings in ING Groep (NYSE:ING)

Sterling Capital Management LLC boosted its holdings in shares of ING Groep (NYSE:ING) by 27.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,367 shares of the financial services provider’s stock after acquiring an additional 7,108 shares during the quarter. Sterling Capital Management LLC’s holdings in ING Groep were worth $523,000 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 the business. Roxbury Financial LLC purchased a new stake in ING Groep in the 4th quarter valued at about $25,000. Brooklyn Investment Group boosted its position in shares of ING Groep by 184.8% during the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,207 shares during the period. Versant Capital Management Inc acquired a new stake in ING Groep in the 4th quarter valued at approximately $45,000. IFP Advisors Inc raised its position in ING Groep by 25.1% in the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 621 shares during the period. Finally, Whipplewood Advisors LLC acquired a new position in ING Groep during the fourth quarter worth $55,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised ING Groep from a “neutral” rating to a “buy” rating in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

ING Groep Stock Performance

Shares of ING stock opened at $18.65 on Friday. The company has a market cap of $65.22 billion, a P/E ratio of 8.71, a PEG ratio of 6.42 and a beta of 1.07. The firm has a fifty day moving average price of $18.61 and a 200 day moving average price of $17.06. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. ING Groep has a 12 month low of $15.09 and a 12 month high of $20.79.

ING Groep (NYSE:ING) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. Sell-side analysts predict that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.6526 dividend. The ex-dividend date of this dividend is Friday, April 25th. This is a boost from ING Groep’s previous semi-annual dividend of $0.17. This represents a yield of 5.1%. ING Groep’s payout ratio is 60.75%.

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.