ING Groep (NYSE:ING) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in shares of ING Groep (NYSE:ING - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 234,529 shares of the financial services provider's stock after acquiring an additional 22,355 shares during the period. Charles Schwab Investment Management Inc.'s holdings in ING Groep were worth $3,675,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ING. Todd Asset Management LLC increased its holdings in shares of ING Groep by 1.6% in the fourth quarter. Todd Asset Management LLC now owns 2,771,941 shares of the financial services provider's stock valued at $43,436,000 after purchasing an additional 42,851 shares during the period. HighTower Advisors LLC increased its stake in ING Groep by 1.7% in the 3rd quarter. HighTower Advisors LLC now owns 948,188 shares of the financial services provider's stock valued at $17,180,000 after buying an additional 15,964 shares during the period. ABC Arbitrage SA purchased a new position in ING Groep during the 4th quarter worth $10,129,000. Public Employees Retirement System of Ohio acquired a new stake in shares of ING Groep in the 3rd quarter worth $9,924,000. Finally, State Street Corp boosted its holdings in shares of ING Groep by 1.3% in the third quarter. State Street Corp now owns 358,479 shares of the financial services provider's stock valued at $6,510,000 after acquiring an additional 4,542 shares in the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised shares of ING Groep from a "neutral" rating to a "buy" rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

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ING Groep Price Performance

NYSE:ING traded down $0.23 during trading hours on Friday, hitting $19.83. The company's stock had a trading volume of 1,771,267 shares, compared to its average volume of 2,281,610. ING Groep has a 52-week low of $15.09 and a 52-week high of $20.79. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The business's 50-day moving average is $18.09 and its two-hundred day moving average is $17.05. The company has a market capitalization of $69.35 billion, a PE ratio of 9.26, a PEG ratio of 6.42 and a beta of 1.44.

ING Groep (NYSE:ING - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. As a group, research analysts anticipate that ING Groep will post 2.14 EPS 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. Stockholders of record on Friday, April 25th will be given a dividend of $0.6526 per share. This represents a dividend yield of 5.1%. This is an increase from ING Groep's previous semi-annual dividend of $0.17. The ex-dividend date of this dividend is Friday, April 25th. ING Groep's dividend payout ratio (DPR) is presently 60.75%.

About ING Groep

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.