Envestnet Asset Management Inc. Grows Position in ING Group, N.V. $ING

Envestnet Asset Management Inc. lifted its holdings in shares of ING Group, N.V. (NYSE:ING) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,990,736 shares of the financial services provider’s stock after buying an additional 82,340 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of ING Group worth $51,918,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in shares of ING Group during the 3rd quarter valued at $451,000. Capital Fund Management S.A. grew its holdings in shares of ING Group by 14.7% in the second quarter. Capital Fund Management S.A. now owns 612,511 shares of the financial services provider’s stock worth $13,396,000 after purchasing an additional 78,622 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of ING Group by 64.7% in the second quarter. Bank of New York Mellon Corp now owns 467,898 shares of the financial services provider’s stock valued at $10,233,000 after acquiring an additional 183,891 shares during the period. Logan Capital Management Inc. increased its holdings in ING Group by 11.0% during the 2nd quarter. Logan Capital Management Inc. now owns 220,820 shares of the financial services provider’s stock valued at $4,829,000 after purchasing an additional 21,853 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of ING Group by 25.2% during the second quarter. JPMorgan Chase & Co. now owns 1,314,705 shares of the financial services provider’s stock valued at $28,753,000 after acquiring an additional 264,858 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Zacks Research raised shares of ING Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods cut shares of ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research report on Monday, December 29th. Jefferies Financial Group started coverage on ING Group in a research report on Tuesday, January 27th. They issued a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised ING Group from a “hold” rating to a “buy” rating in a report on Monday, February 2nd. Two 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 MarketBeat, the stock currently has a consensus rating of “Buy”.

ING Group Price Performance

Shares of ING opened at $30.71 on Tuesday. The firm has a market cap of $89.38 billion, a PE ratio of 12.85, a P/E/G ratio of 1.46 and a beta of 0.80. ING Group, N.V. has a 1-year low of $16.26 and a 1-year high of $31.17. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.99. The firm has a fifty day simple moving average of $28.42 and a two-hundred day simple moving average of $26.06.

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

ING Group Dividend Announcement

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

About ING Group

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.