Sage Mountain Advisors LLC Purchases Shares of 10,027 ING Groep (NYSE:ING)

Sage Mountain Advisors LLC acquired a new stake in ING Groep (NYSE:ING) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,027 shares of the financial services provider’s stock, valued at approximately $157,000.

A number of other hedge funds have also modified their holdings of ING. IFP Advisors Inc boosted its position in ING Groep by 25.1% during the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 621 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in ING Groep by 20.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 665 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its stake in ING Groep by 1.8% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 41,553 shares of the financial services provider’s stock worth $651,000 after acquiring an additional 716 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in ING Groep by 5.2% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 722 shares during the last quarter. Finally, Confluence Investment Management LLC increased its stake in ING Groep by 1.7% during the fourth quarter. Confluence Investment Management LLC now owns 48,238 shares of the financial services provider’s stock worth $756,000 after acquiring an additional 790 shares during the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

ING Groep Price Performance

ING Groep stock opened at $19.97 on Thursday. ING Groep has a one year low of $15.09 and a one year high of $20.79. The company has a market cap of $69.84 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44. The business has a fifty day moving average of $17.09 and a two-hundred day moving average of $16.87. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13.

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%. As a group, analysts predict that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders 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 dividend yield of 6.4%. ING Groep’s dividend payout ratio (DPR) is 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.