Ritholtz Wealth Management Grows Position in ING Groep (NYSE:ING)

Ritholtz Wealth Management raised its holdings in ING Groep (NYSE:ING - Free Report) by 68.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 199,063 shares of the financial services provider's stock after buying an additional 80,656 shares during the quarter. Ritholtz Wealth Management's holdings in ING Groep were worth $3,615,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ING. Financial Management Professionals Inc. boosted its position in ING Groep by 67.8% in the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider's stock valued at $27,000 after buying an additional 662 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in shares of ING Groep in the fourth quarter valued at $28,000. Summit Securities Group LLC bought a new position in shares of ING Groep in the second quarter valued at about $31,000. Rothschild Investment LLC acquired a new position in ING Groep during the 2nd quarter worth about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in ING Groep during the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 4.49% of the company's stock.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft downgraded shares of ING Groep from a "buy" rating to a "hold" rating in a research report on Wednesday.

ING Groep Stock Up 1.0 %

Shares of ING Groep stock traded up $0.18 during trading hours on Friday, reaching $17.41. 1,689,670 shares of the company's stock were exchanged, compared to its average volume of 2,368,243. The company has a 50 day moving average of $17.70 and a two-hundred day moving average of $17.43. ING Groep has a fifty-two week low of $12.44 and a fifty-two week high of $18.72. The company has a current ratio of 0.95, a quick ratio of 1.12 and a debt-to-equity ratio of 2.54. The stock has a market cap of $60.90 billion, a P/E ratio of 7.70 and a beta of 1.52.

ING Groep (NYSE:ING - Get Free Report) last released its quarterly earnings data 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 period in the previous year, the company posted $0.65 EPS. On average, sell-side analysts forecast that ING Groep will post 2.04 EPS for the current fiscal year.

ING Groep Increases Dividend

The company 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%. This is a positive change from ING Groep's previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Thursday, August 8th. ING Groep's dividend payout ratio is currently 28.32%.

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.