NewEdge Wealth LLC Trims Stock Position in ING Groep (NYSE:ING)

NewEdge Wealth LLC cut its holdings in shares of ING Groep (NYSE:ING) by 14.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 40,436 shares of the financial services provider’s stock after selling 6,592 shares during the period. NewEdge Wealth LLC’s holdings in ING Groep were worth $607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in ING. Bank of America Corp DE lifted its holdings in shares of ING Groep by 64.0% in the 1st quarter. Bank of America Corp DE now owns 6,579,854 shares of the financial services provider’s stock valued at $78,103,000 after buying an additional 2,567,427 shares during the period. Arrowstreet Capital Limited Partnership raised its position in ING Groep by 4,412.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,823,310 shares of the financial services provider’s stock valued at $19,017,000 after acquiring an additional 1,782,900 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in ING Groep by 27.1% in the second quarter. Goldman Sachs Group Inc. now owns 7,851,043 shares of the financial services provider’s stock valued at $77,882,000 after acquiring an additional 1,673,262 shares during the period. Renaissance Technologies LLC purchased a new stake in ING Groep in the 1st quarter worth approximately $9,905,000. Finally, JPMorgan Chase & Co. grew its stake in shares of ING Groep by 934.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 914,504 shares of the financial services provider’s stock worth $12,053,000 after purchasing an additional 826,067 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Stock Performance

ING opened at $15.63 on Wednesday. The firm has a fifty day moving average price of $14.97 and a 200 day moving average price of $14.24. ING Groep has a 1 year low of $11.78 and a 1 year high of $17.18. The stock has a market cap of $58.25 billion, a P/E ratio of 7.07, a P/E/G ratio of 2.78 and a beta of 1.58. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.12 and a quick ratio of 1.12.

ING Groep (NYSE:ING) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). ING Groep had a return on equity of 13.36% and a net margin of 32.29%. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $6.15 billion. Equities research analysts anticipate that ING Groep will post 1.94 earnings per share for the current year.

ING Groep Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, April 25th will be given a dividend of $0.697 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a yield of 6.8%. This is an increase from ING Groep’s previous Semi-Annual dividend of $0.43. ING Groep’s dividend payout ratio is currently 31.22%.

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.