ING Groep (NYSE:ING) Shares Sold by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC lessened its position in ING Groep (NYSE:ING) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,443 shares of the financial services provider’s stock after selling 744 shares during the period. GC Wealth Management RIA LLC’s holdings in ING Groep were worth $305,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ING. Crossmark Global Holdings Inc. raised its position in shares of ING Groep by 30.8% in the third quarter. Crossmark Global Holdings Inc. now owns 266,994 shares of the financial services provider’s stock valued at $4,849,000 after buying an additional 62,801 shares during the last quarter. Zions Bancorporation N.A. grew its holdings in ING Groep by 42.2% in the third quarter. Zions Bancorporation N.A. now owns 52,427 shares of the financial services provider’s stock valued at $952,000 after purchasing an additional 15,547 shares during the period. OneDigital Investment Advisors LLC grew its holdings in ING Groep by 6.2% in the third quarter. OneDigital Investment Advisors LLC now owns 22,672 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 1,314 shares during the period. Natixis Advisors LLC grew its holdings in ING Groep by 71.3% in the third quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock valued at $60,051,000 after purchasing an additional 1,376,713 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new stake in ING Groep in the third quarter valued at approximately $215,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Price Performance

ING opened at $19.89 on Wednesday. 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 $15.09 and a 52-week high of $20.79. The company has a 50 day moving average of $17.00 and a two-hundred day moving average of $16.85. The company has a market cap of $69.58 billion, a P/E ratio of 9.29, a P/E/G ratio of 6.42 and a beta of 1.44.

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 the consensus estimate 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, analysts expect that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, January 13th. This represents a yield of 6.4%. ING Groep’s dividend payout ratio is currently 29.91%.

Analyst Upgrades and Downgrades

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

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.