ING Groep (NYSE:ING) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lowered its stake in ING Groep (NYSE:ING) by 7.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 83,890 shares of the financial services provider’s stock after selling 6,760 shares during the quarter. Avantax Advisory Services Inc.’s holdings in ING Groep were worth $1,315,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. IFP Advisors Inc grew 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 acquiring an additional 621 shares during the period. SRS Capital Advisors Inc. boosted its stake 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 worth $62,000 after purchasing an additional 665 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake 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 worth $651,000 after purchasing an additional 716 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its stake 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 worth $229,000 after purchasing an additional 722 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its stake 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 worth $756,000 after purchasing an additional 790 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Trading Up 0.9 %

Shares of ING opened at $20.47 on Wednesday. ING Groep has a 52-week low of $15.09 and a 52-week high of $20.79. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. The firm’s fifty day moving average is $17.44 and its two-hundred day moving average is $16.92. The stock has a market cap of $71.59 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44.

ING Groep (NYSE:ING) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 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%. Research analysts forecast that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

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.