Benson Investment Management Company Inc. Makes New Investment in ING Groep (NYSE:ING)

Benson Investment Management Company Inc. purchased a new stake in ING Groep (NYSE:ING - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 286,550 shares of the financial services provider's stock, valued at approximately $5,204,000. ING Groep makes up approximately 2.1% of Benson Investment Management Company Inc.'s investment portfolio, making the stock its 29th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Financial Management Professionals Inc. lifted its stake 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 during the last quarter. Richardson Financial Services Inc. acquired a new stake in ING Groep in the fourth quarter valued at $28,000. Summit Securities Group LLC acquired a new stake in shares of ING Groep during the second quarter valued at $31,000. Rothschild Investment LLC acquired a new stake in shares of ING Groep during the second quarter valued at $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of ING Groep during the second quarter valued at $38,000. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Groep Trading Down 0.3 %

Shares of ING Groep stock traded down $0.06 during trading hours on Tuesday, reaching $17.31. The stock had a trading volume of 1,818,557 shares, compared to its average volume of 2,358,829. The firm has a 50 day simple moving average of $17.73 and a two-hundred day simple moving average of $17.44. The firm has a market capitalization of $60.55 billion, a price-to-earnings ratio of 7.66 and a beta of 1.52. The company has a current ratio of 0.95, a quick ratio of 1.12 and a debt-to-equity ratio of 2.54. ING Groep has a 1 year low of $12.44 and a 1 year high of $18.72.

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. The company had revenue of $6.15 billion for the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. During the same quarter last year, the business earned $0.65 earnings per share. As a group, equities research analysts anticipate that ING Groep will post 2.04 earnings per share for the current year.

ING Groep Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 19th. Investors of record on Thursday, August 8th were issued a dividend of $0.8143 per share. This is an increase from ING Groep's previous semi-annual dividend of $0.70. This represents a dividend yield of 5.9%. The ex-dividend date was Thursday, August 8th. ING Groep's dividend payout ratio (DPR) is presently 28.32%.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft downgraded ING Groep from a "buy" rating to a "hold" rating in a research report on Wednesday, October 9th.

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.