Principal Securities Inc. Buys 16,503 Shares of ING Groep (NYSE:ING)

Principal Securities Inc. boosted its stake in ING Groep (NYSE:ING) by 689.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,896 shares of the financial services provider’s stock after acquiring an additional 16,503 shares during the period. Principal Securities Inc.’s holdings in ING Groep were worth $296,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ING. Raymond James & Associates boosted its holdings in ING Groep by 49.7% in the third quarter. Raymond James & Associates now owns 794,658 shares of the financial services provider’s stock valued at $14,431,000 after acquiring an additional 263,904 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in ING Groep by 19.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 25,378 shares of the financial services provider’s stock valued at $461,000 after acquiring an additional 4,165 shares during the last quarter. Private Advisor Group LLC boosted its holdings in ING Groep by 25.2% in the third quarter. Private Advisor Group LLC now owns 20,853 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 4,196 shares during the last quarter. International Assets Investment Management LLC bought a new stake in ING Groep in the third quarter valued at approximately $4,030,000. Finally, Fortitude Family Office LLC bought a new stake in ING Groep in the third quarter valued at approximately $25,000. 4.49% of the stock is currently owned by institutional investors.

ING Groep Price Performance

Shares of ING opened at $17.12 on Monday. ING Groep has a 52-week low of $13.57 and a 52-week high of $18.72. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The business’s 50 day moving average price is $16.23 and its two-hundred day moving average price is $16.72. The firm has a market cap of $59.87 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 6.42 and a beta of 1.46.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. On average, equities analysts anticipate that ING Groep will post 2.14 EPS for the current 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 was Monday, January 13th. ING Groep’s dividend payout ratio (DPR) is presently 30.37%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley cut 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.