Avantax Advisory Services Inc. Trims Position in ING Groep (NYSE:ING)

Avantax Advisory Services Inc. cut its holdings in shares of ING Groep (NYSE:ING) by 7.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 83,890 shares of the financial services provider’s stock after selling 6,760 shares during the quarter. Avantax Advisory Services Inc.’s holdings in ING Groep were worth $1,315,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Roxbury Financial LLC purchased a new position in ING Groep during the 4th quarter worth approximately $25,000. Brooklyn Investment Group raised its position in ING Groep by 184.8% during the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,207 shares during the last quarter. Versant Capital Management Inc purchased a new position in ING Groep during the 4th quarter worth approximately $45,000. IFP Advisors Inc raised its position in ING Groep by 25.1% during the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock worth $48,000 after buying an additional 621 shares during the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in ING Groep during the 4th quarter worth approximately $55,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Morgan Stanley lowered shares of ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th.

ING Groep Price Performance

NYSE:ING opened at $20.47 on Wednesday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $71.59 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44. The company has a 50 day moving average price of $17.44 and a 200-day moving average price of $16.92. ING Groep has a 1-year low of $15.09 and a 1-year high of $20.79.

ING Groep (NYSE:ING) last posted its 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 net margin of 28.30% and a return on equity of 11.81%. Equities research analysts forecast that ING Groep will post 2.14 EPS for the current year.

ING Groep Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were issued a dividend of $0.1667 per share. This represents a dividend yield of 6.4%. The ex-dividend date of this dividend was Monday, January 13th. ING Groep’s dividend payout ratio (DPR) is 29.91%.

ING Groep Company 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.