286,550 Shares in ING Groep (NYSE:ING) Acquired by Benson Investment Management Company Inc.

Benson Investment Management Company Inc. acquired a new stake in ING Groep (NYSE:ING) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 286,550 shares of the financial services provider’s stock, valued at approximately $5,204,000. ING Groep comprises 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 also recently bought and sold shares of ING. Virtu Financial LLC acquired a new stake in ING Groep in the 4th quarter valued at about $429,000. Richardson Financial Services Inc. bought a new position in ING Groep in the 4th quarter worth approximately $28,000. Sivia Capital Partners LLC acquired a new position in ING Groep during the 4th quarter worth $188,000. B. Riley Wealth Advisors Inc. bought a new position in ING Groep in the 4th quarter valued at $160,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of ING Groep by 8.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 97,975 shares of the financial services provider’s stock valued at $1,472,000 after buying an additional 7,353 shares during the period. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft lowered ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th.

ING Groep Stock Down 0.2 %

Shares of NYSE:ING opened at $17.38 on Tuesday. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12. The stock has a market cap of $60.78 billion, a price-to-earnings ratio of 7.69 and a beta of 1.52. The company has a 50 day moving average of $17.72 and a 200-day moving average of $17.43. ING Groep has a one year low of $12.44 and a one year high of $18.72.

ING Groep (NYSE:ING) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.58 EPS for the quarter. The firm had revenue of $6.15 billion during the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same period in the prior year, the firm posted $0.65 EPS. On average, sell-side analysts forecast 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. Shareholders of record on Thursday, August 8th were paid a $0.8143 dividend. This is a positive change from ING Groep’s previous semi-annual dividend of $0.70. The ex-dividend date was Thursday, August 8th. This represents a yield of 5.9%. ING Groep’s dividend payout ratio is presently 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.