Camelot Portfolios LLC Sells 788 Shares of ING Groep (NYSE:ING)

Camelot Portfolios LLC cut its holdings in shares of ING Groep (NYSE:ING) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,303 shares of the financial services provider’s stock after selling 788 shares during the quarter. Camelot Portfolios LLC’s holdings in ING Groep were worth $271,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Creative Planning lifted its stake in shares of ING Groep by 10.1% in the third quarter. Creative Planning now owns 230,564 shares of the financial services provider’s stock valued at $4,187,000 after buying an additional 21,159 shares during the period. Raymond James & Associates lifted its position in shares of ING Groep by 49.7% in the 3rd quarter. Raymond James & Associates now owns 794,658 shares of the financial services provider’s stock worth $14,431,000 after acquiring an additional 263,904 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of ING Groep by 19.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 25,378 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 4,165 shares in the last quarter. Private Advisor Group LLC increased its position in shares of ING Groep by 25.2% during the third quarter. Private Advisor Group LLC now owns 20,853 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 4,196 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of ING Groep in the third quarter valued at $4,030,000. 4.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Morgan Stanley downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 26th.

ING Groep Stock Down 0.6 %

Shares of ING opened at $17.12 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. The company has a 50-day moving average price of $16.23 and a two-hundred day moving average price of $16.72. The stock has a market cap of $59.87 billion, a price-to-earnings ratio of 8.00, a P/E/G ratio of 6.35 and a beta of 1.46. ING Groep has a 12 month low of $13.57 and a 12 month high of $18.72.

ING Groep (NYSE:ING) last posted its earnings results 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 return on equity of 11.81% and a net margin of 28.30%. Equities analysts predict that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were issued a $0.1667 dividend. This represents a dividend yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep’s payout ratio is 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.