Causeway Capital Management LLC Boosts Stock Holdings in ING Groep (NYSE:ING)

Causeway Capital Management LLC lifted its stake in shares of ING Groep (NYSE:ING - Free Report) by 38.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,491,567 shares of the financial services provider's stock after acquiring an additional 416,762 shares during the period. Causeway Capital Management LLC's holdings in ING Groep were worth $23,373,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Roxbury Financial LLC acquired a new position in ING Groep in the fourth 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 grew its stake in shares of 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 buying an additional 621 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new stake in shares of ING Groep in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 4.49% of the company's stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded shares of ING Groep from a "neutral" rating to a "buy" rating in a report on Thursday, March 27th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ING Groep has an average rating of "Moderate Buy".

ING Groep Stock Performance

NYSE ING traded up $0.09 during trading hours on Friday, hitting $18.65. 2,215,257 shares of the stock were exchanged, compared to its average volume of 2,322,568. ING Groep has a 12-month low of $15.09 and a 12-month high of $20.79. The stock has a 50-day moving average of $18.61 and a 200 day moving average of $17.06. The company has a market cap of $65.22 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89.

ING Groep (NYSE:ING - Get Free Report) last released its quarterly earnings results 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%. As a group, equities research analysts forecast that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.6526 per share. The ex-dividend date of this dividend is Friday, April 25th. This is an increase from ING Groep's previous semi-annual dividend of $0.17. This represents a dividend yield of 5.1%. ING Groep's payout ratio is 60.75%.

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.