Five Oceans Advisors Invests $102,000 in ING Groep (NYSE:ING)

Five Oceans Advisors bought a new position in shares of ING Groep (NYSE:INGGet Rating) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,233 shares of the financial services provider’s stock, valued at approximately $102,000.

A number of other hedge funds have also bought and sold shares of ING. Financial Management Professionals Inc. bought a new position in ING Groep during the second quarter worth about $26,000. Farmers & Merchants Investments Inc. increased its position in ING Groep by 80.6% during the first quarter. Farmers & Merchants Investments Inc. now owns 3,199 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 1,428 shares during the period. CWM LLC increased its position in ING Groep by 68.9% during the first quarter. CWM LLC now owns 3,585 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,463 shares during the period. Prospera Financial Services Inc bought a new position in ING Groep during the first quarter worth about $54,000. Finally, Contravisory Investment Management Inc. increased its position in ING Groep by 14.7% during the first quarter. Contravisory Investment Management Inc. now owns 10,351 shares of the financial services provider’s stock worth $108,000 after acquiring an additional 1,328 shares during the period. 4.39% of the stock is owned by institutional investors.

ING Groep Stock Down 5.3 %

Shares of NYSE ING traded down $0.50 during trading on Friday, hitting $9.00. The stock had a trading volume of 238,621 shares, compared to its average volume of 5,611,780. ING Groep has a 12 month low of $8.42 and a 12 month high of $15.97. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.09 and a quick ratio of 1.10. The company has a market capitalization of $35.11 billion, a PE ratio of 8.19, a PEG ratio of 0.93 and a beta of 1.63. The firm has a fifty day moving average of $9.33 and a two-hundred day moving average of $9.87.

ING Groep Cuts Dividend

The company also recently announced a — dividend, which was paid on Monday, August 22nd. Stockholders of record on Monday, August 15th were paid a $0.1737 dividend. The ex-dividend date was Friday, August 12th. This represents a dividend yield of 10.1%. ING Groep’s payout ratio is 25.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of ING Groep from €13.50 ($13.78) to €14.00 ($14.29) in a report on Monday, June 27th. Royal Bank of Canada decreased their price target on shares of ING Groep from €12.50 ($12.76) to €11.00 ($11.22) in a report on Tuesday, July 12th. Barclays lifted their price target on shares of ING Groep from €10.90 ($11.12) to €11.50 ($11.73) in a report on Thursday, June 2nd. JPMorgan Chase & Co. lifted their target price on shares of ING Groep from €12.80 ($13.06) to €13.00 ($13.27) in a research report on Wednesday, September 7th. Finally, The Goldman Sachs Group began coverage on shares of ING Groep in a research report on Monday, May 30th. They set a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.74.

ING Groep Company Profile

(Get Rating)

ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.

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Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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