BTC Capital Management Inc. Reduces Stake in ING Groep (NYSE:ING)

BTC Capital Management Inc. lessened its stake in ING Groep (NYSE:ING) by 3.4% during the fourth quarter, HoldingsChannel reports. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in ING Groep during the 3rd quarter worth approximately $25,000. Brooklyn Investment Group boosted its holdings in ING Groep by 184.8% in the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,207 shares during the period. Mather Group LLC. grew its position in shares of ING Groep by 57.3% during the 3rd quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 782 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of ING Groep in the fourth quarter worth $45,000. Finally, Hexagon Capital Partners LLC raised its position in shares of ING Groep by 22.3% in the third quarter. Hexagon Capital Partners LLC now owns 3,879 shares of the financial services provider’s stock worth $70,000 after buying an additional 706 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

ING has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Morgan Stanley lowered shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th. Barclays downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Citigroup upgraded ING Groep to a “strong-buy” rating in a report on Thursday, October 17th.

ING Groep Stock Performance

Shares of ING stock opened at $16.80 on Friday. The company’s fifty day moving average price is $15.81 and its 200-day moving average price is $16.86. The stock has a market cap of $58.75 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 6.24 and a beta of 1.47. 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 has a 12 month low of $12.77 and a 12 month high of $18.72.

ING Groep (NYSE:ING) last released its earnings results on Thursday, October 31st. The financial services provider reported $0.65 EPS for the quarter. The firm had revenue of $6.49 billion for the quarter. ING Groep had a return on equity of 12.49% and a net margin of 30.06%. During the same period in the prior year, the company posted $0.61 earnings per share. On average, equities analysts expect that ING Groep will post 2.09 EPS for the current fiscal year.

ING Groep Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were issued a $0.1667 dividend. The ex-dividend date of this dividend was Monday, January 13th. This represents a yield of 6.4%. ING Groep’s payout ratio is 29.15%.

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.