Dorsey & Whitney Trust CO LLC Buys 716 Shares of ING Groep (NYSE:ING)

Dorsey & Whitney Trust CO LLC lifted its stake in shares of ING Groep (NYSE:ING) by 1.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 41,553 shares of the financial services provider’s stock after acquiring an additional 716 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in ING Groep were worth $651,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its holdings in shares of ING Groep by 7.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 90,752 shares of the financial services provider’s stock worth $1,422,000 after acquiring an additional 6,516 shares during the last quarter. Callan Family Office LLC purchased a new position in ING Groep in the 4th quarter worth $980,000. Vestmark Advisory Solutions Inc. raised its position in ING Groep by 32.1% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 33,677 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 8,182 shares during the period. Raymond James Financial Inc. purchased a new position in ING Groep in the 4th quarter worth $14,375,000. Finally, Aigen Investment Management LP purchased a new position in ING Groep in the 4th quarter worth $350,000. 4.49% of the stock is owned by institutional investors.

ING Groep Price Performance

ING stock opened at $20.78 on Monday. The firm’s 50-day moving average price is $16.83 and its two-hundred day moving average price is $16.82. ING Groep has a 12-month low of $14.84 and a 12-month high of $20.79. The stock has a market capitalization of $72.67 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 6.42 and a beta of 1.44. 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 released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. As a group, equities analysts predict that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were given a dividend of $0.1667 per share. This represents a dividend yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep’s dividend payout ratio is currently 29.91%.

Analysts Set New Price Targets

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

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.