Raymond James Financial Inc. Acquires New Stake in ING Groep (NYSE:ING)

Raymond James Financial Inc. purchased a new stake in shares of ING Groep (NYSE:ING - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 917,366 shares of the financial services provider's stock, valued at approximately $14,375,000.

Several other hedge funds have also recently added to or reduced their stakes in ING. Roxbury Financial LLC bought a new stake in ING Groep in the 4th quarter worth approximately $25,000. Brooklyn Investment Group boosted its holdings in ING Groep by 184.8% during the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 1,207 shares during the period. Versant Capital Management Inc bought a new position in ING Groep during the 4th quarter worth approximately $45,000. IFP Advisors Inc increased its stake in ING Groep by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock worth $48,000 after purchasing an additional 621 shares during the period. Finally, Whipplewood Advisors LLC bought a new stake in ING Groep during the 4th quarter valued at $55,000. Institutional investors own 4.49% of the company's stock.

ING Groep Stock Performance

ING stock traded up $0.48 on Wednesday, hitting $19.61. The company had a trading volume of 4,104,090 shares, compared to its average volume of 2,303,416. The stock has a market cap of $68.60 billion, a price-to-earnings ratio of 9.16, a P/E/G ratio of 6.42 and a beta of 1.07. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The stock's 50-day simple moving average is $18.78 and its 200 day simple moving average is $17.10. ING Groep has a 12-month low of $15.09 and a 12-month high of $20.79.

ING Groep (NYSE:ING - Get Free Report) last announced its 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 expect that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Increases Dividend

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

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of ING Groep from a "neutral" rating to a "buy" rating in a research report on Thursday, March 27th. Three research 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

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.