Sei Investments Co. Increases Holdings in ING Groep NV (ING)
Sei Investments Co. raised its holdings in shares of ING Groep NV (NYSE:ING) by 31.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 335,014 shares of the financial services provider’s stock after acquiring an additional 80,338 shares during the period. Sei Investments Co.’s holdings in ING Groep were worth $4,797,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC increased its holdings in shares of ING Groep by 4.0% during the 2nd quarter. Fisher Asset Management LLC now owns 43,296,870 shares of the financial services provider’s stock valued at $620,011,000 after purchasing an additional 1,679,519 shares in the last quarter. UBS Group AG increased its holdings in shares of ING Groep by 102.6% during the 1st quarter. UBS Group AG now owns 2,454,246 shares of the financial services provider’s stock valued at $41,550,000 after purchasing an additional 1,242,824 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of ING Groep during the 1st quarter valued at approximately $7,468,000. Royal Bank of Canada increased its holdings in shares of ING Groep by 8.6% during the 1st quarter. Royal Bank of Canada now owns 3,923,662 shares of the financial services provider’s stock valued at $66,428,000 after purchasing an additional 309,137 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of ING Groep by 203.5% during the 2nd quarter. Bank of Montreal Can now owns 437,559 shares of the financial services provider’s stock valued at $6,266,000 after purchasing an additional 293,392 shares in the last quarter. Institutional investors and hedge funds own 3.54% of the company’s stock.
Several equities analysts have recently weighed in on the stock. ValuEngine lowered shares of ING Groep from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd. Zacks Investment Research raised shares of ING Groep from a “sell” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.00.
The business also recently declared a special dividend, which was paid on Tuesday, August 21st. Investors of record on Monday, August 13th were issued a $0.2799 dividend. This represents a yield of 6.86%. The ex-dividend date was Friday, August 10th. ING Groep’s payout ratio is presently 30.56%.
ING Groep Profile
ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.
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