Legacy Wealth Asset Management LLC Decreases Stock Position in ING Groep (NYSE:ING)

Legacy Wealth Asset Management LLC lessened its position in shares of ING Groep (NYSE:ING) by 20.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,803 shares of the financial services provider’s stock after selling 10,694 shares during the period. Legacy Wealth Asset Management LLC’s holdings in ING Groep were worth $759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ING. B. Riley Wealth Advisors Inc. purchased a new stake in ING Groep during the fourth quarter valued at about $160,000. Wealth Enhancement Advisory Services LLC boosted its holdings in ING Groep by 8.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 96,682 shares of the financial services provider’s stock worth $1,594,000 after buying an additional 7,209 shares during the period. Financial Management Professionals Inc. boosted its holdings in ING Groep by 67.8% in the 1st quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock worth $27,000 after buying an additional 662 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in ING Groep by 131.2% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 70,844 shares of the financial services provider’s stock valued at $1,168,000 after buying an additional 40,208 shares in the last quarter. Finally, BKM Wealth Management LLC raised its holdings in ING Groep by 35.6% during the 1st quarter. BKM Wealth Management LLC now owns 31,515 shares of the financial services provider’s stock valued at $520,000 after acquiring an additional 8,282 shares during the period. Institutional investors own 4.49% of the company’s stock.

ING Groep Trading Down 0.1 %

ING Groep stock opened at $16.84 on Friday. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.12 and a current ratio of 0.95. ING Groep has a fifty-two week low of $12.44 and a fifty-two week high of $18.72. The stock has a market cap of $58.91 billion, a P/E ratio of 7.69, a PEG ratio of 6.58 and a beta of 1.52. The firm’s fifty day moving average price is $17.77 and its 200-day moving average price is $17.45.

ING Groep (NYSE:ING) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The business had revenue of $6.15 billion for the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. During the same quarter in the prior year, the company earned $0.65 earnings per share. Equities research analysts forecast that ING Groep will post 2.06 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 19th. Shareholders of record on Thursday, August 8th were paid a $0.8143 dividend. This represents a yield of 5.9%. The ex-dividend date of this dividend was Thursday, August 8th. This is a boost from ING Groep’s previous semi-annual dividend of $0.70. ING Groep’s payout ratio is currently 29.68%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ING. Barclays cut ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday. Citigroup raised ING Groep to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of ING Groep from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th.

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.