Diversify Wealth Management LLC Boosts Stock Position in ING Groep (NYSE:ING)

Diversify Wealth Management LLC raised its holdings in ING Groep (NYSE:ING) by 16.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,890 shares of the financial services provider’s stock after buying an additional 6,239 shares during the period. Diversify Wealth Management LLC’s holdings in ING Groep were worth $698,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Valeo Financial Advisors LLC lifted its stake 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 purchasing an additional 684 shares during the last quarter. Wedmont Private Capital lifted its position in shares of ING Groep by 6.6% during the 3rd quarter. Wedmont Private Capital now owns 11,047 shares of the financial services provider’s stock worth $195,000 after buying an additional 688 shares during the last quarter. Hexagon Capital Partners LLC boosted 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 valued at $70,000 after buying an additional 706 shares in the last quarter. Mather Group LLC. grew its position in shares of ING Groep by 57.3% in the 3rd quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock valued at $39,000 after buying an additional 782 shares during the last quarter. Finally, Confluence Investment Management LLC raised its stake in ING Groep by 1.7% during the 4th quarter. Confluence Investment Management LLC now owns 48,238 shares of the financial services provider’s stock worth $756,000 after acquiring an additional 790 shares in the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

ING Groep Stock Performance

NYSE ING opened at $16.73 on Wednesday. The firm has a market cap of $58.51 billion, a P/E ratio of 7.50, a P/E/G ratio of 6.08 and a beta of 1.47. ING Groep has a 52-week low of $12.77 and a 52-week high of $18.72. The business’s 50-day moving average price is $15.65 and its 200 day moving average price is $16.92. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89.

ING Groep (NYSE:ING) last announced its earnings results on Thursday, October 31st. The financial services provider reported $0.65 earnings per share for the quarter. ING Groep had a return on equity of 12.49% and a net margin of 30.06%. The company had revenue of $6.49 billion for the quarter. During the same quarter last year, the business posted $0.61 earnings per share. On average, equities research analysts expect that ING Groep will post 2.09 earnings per share for the current year.

ING Groep Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th will be given a dividend of $0.1667 per share. The ex-dividend date is Monday, January 13th. This represents a yield of 6.4%. ING Groep’s payout ratio is currently 12.56%.

About ING Groep

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.