Hardy Reed LLC Makes New $164,000 Investment in ING Groep (NYSE:ING)

Hardy Reed LLC bought a new position in shares of ING Groep (NYSE:ING) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,450 shares of the financial services provider’s stock, valued at approximately $164,000.

Other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of ING Groep during the third quarter worth $25,000. Roxbury Financial LLC purchased a new stake in shares of ING Groep during the fourth quarter worth $25,000. Brooklyn Investment Group lifted its position in shares of ING Groep by 184.8% during the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,207 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of ING Groep during the fourth quarter worth $45,000. Finally, Sierra Ocean LLC purchased a new stake in shares of ING Groep in the fourth quarter worth $65,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

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

ING Groep Trading Down 2.3 %

Shares of ING stock opened at $17.04 on Thursday. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. ING Groep has a 52-week low of $13.56 and a 52-week high of $18.72. The company has a market capitalization of $59.59 billion, a PE ratio of 7.96, a price-to-earnings-growth ratio of 6.38 and a beta of 1.46. The business’s fifty day moving average is $16.15 and its 200 day moving average is $16.71.

ING Groep (NYSE:ING) last issued 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 return on equity of 11.81% and a net margin of 28.30%. On average, equities research analysts anticipate that ING Groep will post 2.14 EPS for the current fiscal 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 $0.1667 dividend. The ex-dividend date was Monday, January 13th. This represents a yield of 6.4%. ING Groep’s dividend payout ratio is presently 30.37%.

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.