Highland Capital Management LLC Sells 2,635 Shares of ING Groep (NYSE:ING)

Highland Capital Management LLC lowered its stake in shares of ING Groep (NYSE:ING) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 103,030 shares of the financial services provider’s stock after selling 2,635 shares during the period. Highland Capital Management LLC’s holdings in ING Groep were worth $1,614,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ING. Fortitude Family Office LLC bought a new position in shares of ING Groep in the 3rd quarter valued at about $25,000. Brooklyn Investment Group grew its holdings in ING Groep by 184.8% during the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,207 shares during the period. Mather Group LLC. increased its position in ING Groep by 57.3% during the third quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock worth $39,000 after buying an additional 782 shares during the last quarter. Versant Capital Management Inc bought a new stake in ING Groep in the fourth quarter valued at approximately $45,000. Finally, Hexagon Capital Partners LLC lifted its position in shares of ING Groep by 22.3% in the third quarter. Hexagon Capital Partners LLC now owns 3,879 shares of the financial services provider’s stock valued at $70,000 after buying an additional 706 shares during the last quarter. 4.49% of the stock is owned by institutional investors.

ING Groep Stock Up 0.3 %

ING stock opened at $16.80 on Friday. ING Groep has a fifty-two week low of $12.77 and a fifty-two week high of $18.72. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $58.75 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 6.10 and a beta of 1.47. The business’s fifty day moving average price is $15.79 and its two-hundred day moving average price is $16.86.

ING Groep (NYSE:ING) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.65 earnings per share for the quarter. The company had revenue of $6.49 billion during the quarter. ING Groep had a net margin of 30.06% and a return on equity of 12.49%. During the same quarter in the previous year, the firm posted $0.61 earnings per share. On average, equities analysts anticipate that ING Groep will post 2.09 earnings per share for the current year.

ING Groep Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were given a dividend of $0.1667 per share. The ex-dividend date of this dividend was Monday, January 13th. This represents a dividend yield of 6.4%. ING Groep’s payout ratio is 29.15%.

Analyst Ratings Changes

A number of research firms recently weighed in on ING. Deutsche Bank Aktiengesellschaft lowered ING Groep from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Citigroup raised shares of ING Groep to a “strong-buy” rating in a research report on Thursday, October 17th. Barclays downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th.

ING Groep Profile

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.