Park Place Capital Corp Trims Stake in ING Groep (NYSE:ING)

Park Place Capital Corp lessened its position in ING Groep (NYSE:ING) by 19.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,813 shares of the financial services provider’s stock after selling 2,641 shares during the quarter. Park Place Capital Corp’s holdings in ING Groep were worth $196,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in ING. Financial Management Professionals Inc. lifted its position in ING Groep by 67.8% during the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock valued at $27,000 after buying an additional 662 shares during the period. Richardson Financial Services Inc. bought a new stake in ING Groep during the fourth quarter worth about $28,000. Summit Securities Group LLC purchased a new stake in ING Groep in the second quarter worth about $31,000. Rothschild Investment LLC bought a new position in shares of ING Groep during the second quarter valued at approximately $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of ING Groep during the second quarter valued at approximately $38,000. 4.49% of the stock is currently owned by institutional investors.

ING Groep Stock Down 0.1 %

ING stock opened at $17.64 on Wednesday. ING Groep has a twelve month low of $12.44 and a twelve month high of $18.72. The firm has a market cap of $61.71 billion, a PE ratio of 7.81 and a beta of 1.52. The business has a 50 day moving average of $17.73 and a 200 day moving average of $17.39. The company has a quick ratio of 1.12, a current ratio of 0.95 and a debt-to-equity ratio of 2.54.

ING Groep (NYSE:ING) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The company had revenue of $6.15 billion during the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same quarter in the previous year, the firm earned $0.65 earnings per share. On average, research analysts forecast that ING Groep will post 2.04 EPS for the current fiscal year.

ING Groep Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 19th. Investors of record on Thursday, August 8th were issued a $0.8143 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a yield of 5.9%. This is a boost from ING Groep’s previous semi-annual dividend of $0.70. ING Groep’s dividend payout ratio (DPR) is currently 28.32%.

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.