Sanctuary Advisors LLC Makes New Investment in ING Groep (NYSE:ING)

Sanctuary Advisors LLC purchased a new position in ING Groep (NYSE:ING - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 92,404 shares of the financial services provider's stock, valued at approximately $1,473,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sei Investments Co. boosted its holdings in ING Groep by 14.0% in the 1st quarter. Sei Investments Co. now owns 655,159 shares of the financial services provider's stock worth $10,804,000 after acquiring an additional 80,398 shares during the period. Capital Research Global Investors boosted its stake in shares of ING Groep by 51.2% during the 1st quarter. Capital Research Global Investors now owns 203,780 shares of the financial services provider's stock valued at $3,360,000 after buying an additional 68,966 shares during the last quarter. Confluence Investment Management LLC purchased a new position in shares of ING Groep during the 1st quarter valued at approximately $807,000. Goldman Sachs Group Inc. boosted its stake in shares of ING Groep by 7.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider's stock valued at $128,693,000 after buying an additional 622,037 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in shares of ING Groep by 172.6% during the 1st quarter. Virtu Financial LLC now owns 77,870 shares of the financial services provider's stock valued at $1,284,000 after buying an additional 49,307 shares during the last quarter. Hedge funds and other institutional investors own 4.49% of the company's stock.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft cut ING Groep from a "buy" rating to a "hold" rating in a research note on Wednesday.

ING Groep Stock Up 0.7 %

Shares of ING Groep stock traded up $0.12 on Thursday, hitting $17.23. 1,914,524 shares of the company's stock traded hands, compared to its average volume of 2,371,706. The stock has a market cap of $60.26 billion, a P/E ratio of 7.62 and a beta of 1.52. The company has a quick ratio of 1.12, a current ratio of 0.95 and a debt-to-equity ratio of 2.54. The firm's 50-day moving average is $17.70 and its 200 day moving average is $17.40. ING Groep has a 52-week low of $12.44 and a 52-week high of $18.72.

ING Groep (NYSE:ING - Get Free Report) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.58 EPS for the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. The company had revenue of $6.15 billion during the quarter. During the same quarter last year, the company posted $0.65 earnings per share. Equities analysts anticipate that ING Groep will post 2.04 earnings per share for the current year.

ING Groep Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 19th. Shareholders of record on Thursday, August 8th were issued a $0.8143 dividend. This represents a yield of 5.9%. The ex-dividend date of this dividend was Thursday, August 8th. This is an increase from ING Groep's previous semi-annual dividend of $0.70. ING Groep's payout ratio is currently 28.32%.

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.