Naviter Wealth LLC Has $1.40 Million Position in ING Groep (NYSE:ING)

Naviter Wealth LLC cut its position in shares of ING Groep (NYSE:ING) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,308 shares of the financial services provider’s stock after selling 1,777 shares during the period. Naviter Wealth LLC’s holdings in ING Groep were worth $1,404,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Financial Management Professionals Inc. increased 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 worth $27,000 after buying an additional 662 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of ING Groep during the 2nd quarter worth approximately $31,000. Rothschild Investment LLC acquired a new position in shares of ING Groep during the 2nd quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in ING Groep in the 2nd quarter valued at $38,000. Finally, Mather Group LLC. lifted its holdings in ING Groep by 57.3% during the 3rd quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 782 shares during the last quarter. 4.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Deutsche Bank Aktiengesellschaft downgraded shares of ING Groep from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th.

ING Groep Stock Performance

NYSE:ING opened at $17.28 on Friday. The company has a market cap of $60.43 billion, a price-to-earnings ratio of 7.64 and a beta of 1.52. ING Groep has a fifty-two week low of $12.44 and a fifty-two week high of $18.72. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.12 and a current ratio of 0.95. The stock has a fifty day moving average price of $17.76 and a 200-day moving average price of $17.44.

ING Groep (NYSE:ING) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. The business had revenue of $6.15 billion for the quarter. During the same period last year, the business earned $0.65 earnings per share. As a group, equities analysts anticipate 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. Shareholders of record on Thursday, August 8th were given a $0.8143 dividend. The ex-dividend date was Thursday, August 8th. This represents a yield of 5.9%. This is a positive change 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.