Meridian Wealth Management LLC Raises Holdings in ING Groep (NYSE:ING)

Meridian Wealth Management LLC increased its stake in shares of ING Groep (NYSE:ING) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,592 shares of the financial services provider’s stock after purchasing an additional 1,477 shares during the period. Meridian Wealth Management LLC’s holdings in ING Groep were worth $2,407,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

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

ING Groep Price Performance

ING stock opened at $18.37 on Tuesday. The stock has a market capitalization of $64.26 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 6.42 and a beta of 1.46. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. ING Groep has a 52-week low of $14.04 and a 52-week high of $18.74. The stock’s fifty day simple moving average is $16.51 and its 200-day simple moving average is $16.76.

ING Groep (NYSE:ING) last issued its quarterly earnings results 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%. Equities research analysts expect that ING Groep will post 2.14 EPS for the current year.

ING Groep Cuts Dividend

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

ING Groep 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.