Strategic Financial Concepts LLC Purchases New Stake in ING Groep (NYSE:ING)

Strategic Financial Concepts LLC acquired a new position in shares of ING Groep (NYSE:ING) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 15,842 shares of the financial services provider’s stock, valued at approximately $248,000.

Other large investors have also recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in shares of ING Groep by 61.6% during the 2nd quarter. AQR Capital Management LLC now owns 26,644 shares of the financial services provider’s stock worth $457,000 after purchasing an additional 10,153 shares during the period. CWM LLC boosted its holdings in ING Groep by 10.0% during the third quarter. CWM LLC now owns 11,291 shares of the financial services provider’s stock worth $205,000 after buying an additional 1,028 shares in the last quarter. Valeo Financial Advisors LLC grew its position in ING Groep by 6.5% during the third quarter. Valeo Financial Advisors LLC now owns 11,243 shares of the financial services provider’s stock worth $204,000 after buying an additional 684 shares during the period. Creative Planning increased its holdings in ING Groep by 10.1% in the third quarter. Creative Planning now owns 230,564 shares of the financial services provider’s stock valued at $4,187,000 after buying an additional 21,159 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its position in shares of ING Groep by 10.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 19,081 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 1,877 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

ING has been the topic of a number of research reports. Morgan Stanley cut ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th. Citigroup raised ING Groep to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Barclays downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 22nd.

ING Groep Trading Up 1.4 %

Shares of ING opened at $16.84 on Thursday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. ING Groep has a 1-year low of $12.94 and a 1-year high of $18.72. The stock has a market cap of $58.91 billion, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of 6.14 and a beta of 1.46. The firm has a 50 day simple moving average of $16.00 and a 200-day simple moving average of $16.73.

ING Groep (NYSE:ING) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. Equities analysts forecast that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Investors 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 payout ratio is 30.37%.

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.