Envestnet Asset Management Inc. Sells 404,674 Shares of ING Groep (NYSE:ING)

Envestnet Asset Management Inc. cut its position in ING Groep (NYSE:ING) by 15.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,181,257 shares of the financial services provider’s stock after selling 404,674 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of ING Groep worth $37,387,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Financial Management Professionals Inc. grew its position in shares of ING Groep by 67.8% in the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 662 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of ING Groep during the second quarter worth approximately $31,000. Rothschild Investment LLC bought a new stake in shares of ING Groep in the second quarter valued at approximately $31,000. Richardson Financial Services Inc. acquired a new stake in shares of ING Groep in the fourth quarter worth $28,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in ING Groep during the second quarter worth $38,000. Institutional investors own 4.49% of the company’s stock.

ING Groep Price Performance

Shares of NYSE:ING opened at $18.66 on Friday. The firm has a market capitalization of $65.28 billion, a PE ratio of 8.26 and a beta of 1.52. The company has a current ratio of 0.95, a quick ratio of 1.12 and a debt-to-equity ratio of 2.54. ING Groep has a 1-year low of $12.44 and a 1-year high of $18.72. The business’s 50 day moving average is $17.81 and its 200-day moving average is $17.14.

ING Groep (NYSE:ING) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. The firm had revenue of $6.15 billion for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same period last year, the firm earned $0.65 EPS. Sell-side analysts predict that ING Groep will post 2.02 earnings per share for the current year.

ING Groep Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 19th. Shareholders of record on Thursday, August 8th were paid a dividend of $0.8143 per share. This is a boost 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 (DPR) is currently 28.32%.

Analysts Set New Price Targets

Separately, Barclays upgraded shares of ING Groep from an “equal weight” rating to an “overweight” rating in a research report on Friday, June 7th.

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.