BTC Capital Management Inc. Has $1.29 Million Stock Position in ING Groep (NYSE:ING)

BTC Capital Management Inc. cut its holdings in ING Groep (NYSE:ING) by 3.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,065 shares of the financial services provider’s stock after selling 2,857 shares during the period. BTC Capital Management Inc.’s holdings in ING Groep were worth $1,286,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in shares of ING Groep in the 3rd quarter valued at approximately $25,000. Brooklyn Investment Group lifted its stake in ING Groep by 184.8% in the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,207 shares during 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 acquiring an additional 782 shares during the period. Versant Capital Management Inc acquired a new position in shares of ING Groep during the 4th quarter worth about $45,000. Finally, Hexagon Capital Partners LLC lifted its stake in 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 purchasing an additional 706 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on ING. Barclays cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Citigroup raised ING Groep to a “strong-buy” rating in a report on Thursday, October 17th. Morgan Stanley lowered ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded 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 $16.80 on Friday. The stock’s 50-day moving average is $15.81 and its 200-day moving average is $16.86. The stock has a market cap of $58.75 billion, a P/E ratio of 7.53, a price-to-earnings-growth ratio of 6.24 and a beta of 1.47. ING Groep has a 1-year low of $12.77 and a 1-year high of $18.72. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89.

ING Groep (NYSE:ING) last posted its quarterly earnings data 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 business had revenue of $6.49 billion during the quarter. During the same quarter in the previous year, the company earned $0.61 earnings per share. Equities research analysts anticipate that ING Groep will post 2.09 earnings per share for the current 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 dividend of $0.1667 per share. This represents a yield of 6.4%. The ex-dividend date of this dividend was Monday, January 13th. ING Groep’s dividend payout ratio is presently 29.15%.

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.