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

Diversify Wealth Management LLC boosted its holdings in ING Groep (NYSE:ING) by 16.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,890 shares of the financial services provider’s stock after acquiring an additional 6,239 shares during the quarter. Diversify Wealth Management LLC’s holdings in ING Groep were worth $698,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Valeo Financial Advisors LLC boosted its holdings in ING Groep by 6.5% during the third quarter. Valeo Financial Advisors LLC now owns 11,243 shares of the financial services provider’s stock worth $204,000 after buying an additional 684 shares in the last quarter. Wedmont Private Capital lifted its position in shares of ING Groep by 6.6% during the 3rd quarter. Wedmont Private Capital now owns 11,047 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 688 shares during the period. Hexagon Capital Partners LLC boosted its stake in shares of ING Groep by 22.3% during the 3rd quarter. Hexagon Capital Partners LLC now owns 3,879 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 706 shares in the last quarter. Mather Group LLC. grew its holdings in shares of ING Groep by 57.3% in the 3rd quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 782 shares during the period. Finally, Confluence Investment Management LLC increased its stake in ING Groep by 1.7% in 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 in the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Stock Performance

ING Groep stock opened at $16.73 on Wednesday. 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 has a fifty-two week low of $12.77 and a fifty-two week high of $18.72. The stock has a fifty day moving average of $15.65 and a two-hundred day moving average of $16.92. The company has a market capitalization of $58.51 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 6.08 and a beta of 1.47.

ING Groep (NYSE:ING) last announced its earnings results on Thursday, October 31st. The financial services provider reported $0.65 earnings per share for the quarter. ING Groep had a net margin of 30.06% and a return on equity of 12.49%. The firm had revenue of $6.49 billion during the quarter. During the same period in the previous year, the firm posted $0.61 EPS. On average, analysts anticipate that ING Groep will post 2.09 EPS for the current fiscal year.

ING Groep Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, January 23rd. Investors of record on Monday, January 13th will be given a dividend of $0.1667 per share. The ex-dividend date is Monday, January 13th. This represents a yield of 6.4%. ING Groep’s dividend payout ratio (DPR) is currently 12.56%.

Analysts Set New Price Targets

ING has been the topic of a number of research analyst reports. Barclays downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft lowered shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Citigroup upgraded shares of ING Groep to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Morgan Stanley downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a report 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.