Wealthstar Advisors LLC Acquires New Shares in ING Groep (NYSE:ING)

Wealthstar Advisors LLC purchased a new position in ING Groep (NYSE:ING - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,203 shares of the financial services provider's stock, valued at approximately $379,000.

A number of other hedge funds have also recently modified their holdings of the company. Natixis Advisors LLC boosted its holdings in shares of ING Groep by 71.3% during the third quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider's stock worth $60,051,000 after purchasing an additional 1,376,713 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in ING Groep in the 3rd quarter worth approximately $9,924,000. Mediolanum International Funds Ltd purchased a new stake in ING Groep in the 3rd quarter worth approximately $7,972,000. Fisher Asset Management LLC grew its position in shares of ING Groep by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 68,451,083 shares of the financial services provider's stock worth $1,243,072,000 after buying an additional 429,562 shares during the last quarter. Finally, Benson Investment Management Company Inc. purchased a new position in shares of ING Groep during the third quarter valued at approximately $5,204,000. Hedge funds and other institutional investors own 4.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ING shares. Citigroup raised ING Groep to a "strong-buy" rating in a research note on Thursday, October 17th. Morgan Stanley cut shares of ING Groep from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, November 26th. Finally, Barclays lowered shares of ING Groep from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, October 22nd.

ING Groep Stock Down 0.0 %

Shares of ING traded down $0.01 on Thursday, reaching $16.84. The stock had a trading volume of 2,662,884 shares, compared to its average volume of 2,583,806. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. ING Groep has a 12-month low of $13.09 and a 12-month high of $18.72. The firm has a market capitalization of $58.89 billion, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of 6.14 and a beta of 1.46. The company has a 50-day simple moving average of $16.03 and a 200-day simple moving average of $16.74.

ING Groep (NYSE:ING - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. Sell-side analysts predict that ING Groep will post 2.14 EPS for the current year.

ING Groep Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were paid a dividend of $0.1667 per share. This represents a yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep's payout ratio is currently 30.37%.

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.