HB Wealth Management LLC Takes $177,000 Position in ING Groep (NYSE:ING)

HB Wealth Management LLC purchased a new stake in shares of ING Groep (NYSE:ING) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 11,285 shares of the financial services provider’s stock, valued at approximately $177,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ING. Fortitude Family Office LLC acquired a new stake in shares of ING Groep during the 3rd quarter worth about $25,000. Brooklyn Investment Group boosted its stake 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 buying an additional 1,207 shares during the period. Mather Group LLC. increased its position in shares of ING Groep by 57.3% during the third quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 782 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of ING Groep in the 4th quarter valued at approximately $45,000. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of ING Groep by 22.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 3,879 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 706 shares during the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

ING Groep Price Performance

Shares of NYSE ING opened at $16.77 on Friday. 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 company has a market cap of $58.65 billion, a price-to-earnings ratio of 7.52, a price-to-earnings-growth ratio of 6.10 and a beta of 1.47. The stock’s 50-day moving average is $15.73 and its two-hundred day moving average is $16.90. ING Groep has a 1-year low of $12.77 and a 1-year high of $18.72.

ING Groep (NYSE:ING) last released its earnings results on Thursday, October 31st. The financial services provider reported $0.65 earnings per share for the quarter. The firm had revenue of $6.49 billion for 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 company posted $0.61 earnings per share. Analysts forecast that ING Groep will post 2.09 EPS for the current fiscal year.

ING Groep Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th were paid a $0.1667 dividend. This represents a yield of 6.4%. The ex-dividend date of this dividend was Monday, January 13th. ING Groep’s dividend payout ratio is presently 28.70%.

ING Groep Company 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.