131,084 Shares in ING Groep (NYSE:ING) Purchased by JPL Wealth Management LLC

JPL Wealth Management LLC bought a new stake in shares of ING Groep (NYSE:ING) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 131,084 shares of the financial services provider’s stock, valued at approximately $2,054,000.

A number of other institutional investors have also added to or reduced their stakes in the business. IFP Advisors Inc increased its position in ING Groep by 25.1% during 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 period. SRS Capital Advisors Inc. increased its position in ING Groep by 20.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 665 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in ING Groep by 1.8% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 41,553 shares of the financial services provider’s stock valued at $651,000 after purchasing an additional 716 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in ING Groep by 5.2% during the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 722 shares during the period. Finally, Confluence Investment Management LLC increased its position in ING Groep by 1.7% during the 4th quarter. Confluence Investment Management LLC now owns 48,238 shares of the financial services provider’s stock valued at $756,000 after purchasing an additional 790 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

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

ING Groep Stock Up 0.4 %

Shares of ING Groep stock opened at $19.97 on Thursday. The firm’s 50 day moving average price is $17.09 and its 200-day moving average price is $16.87. 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 market cap of $69.84 billion, a P/E ratio of 9.33, a PEG ratio of 6.42 and a beta of 1.44.

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, sell-side analysts predict that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Cuts Dividend

The business 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. This represents a yield of 6.4%. The ex-dividend date of this dividend was Monday, January 13th. ING Groep’s dividend payout ratio (DPR) is presently 29.91%.

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.