Gradient Investments LLC Cuts Stake in ING Groep NV (NYSE:ING)

Gradient Investments LLC lessened its position in ING Groep NV (NYSE:ING) by 42.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,596 shares of the financial services provider’s stock after selling 67,878 shares during the quarter. Gradient Investments LLC’s holdings in ING Groep were worth $1,112,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ING. Pacer Advisors Inc. acquired a new stake in shares of ING Groep during the first quarter worth about $1,837,000. Deutsche Bank AG lifted its position in shares of ING Groep by 577.2% during the fourth quarter. Deutsche Bank AG now owns 1,834,364 shares of the financial services provider’s stock worth $19,554,000 after purchasing an additional 1,563,502 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ING Groep by 48.9% during the fourth quarter. Geode Capital Management LLC now owns 34,137 shares of the financial services provider’s stock worth $363,000 after purchasing an additional 11,214 shares in the last quarter. Millennium Management LLC lifted its position in shares of ING Groep by 18.8% during the fourth quarter. Millennium Management LLC now owns 51,854 shares of the financial services provider’s stock worth $553,000 after purchasing an additional 8,206 shares in the last quarter. Finally, First Allied Advisory Services Inc. acquired a new stake in shares of ING Groep during the fourth quarter worth about $660,000. Hedge funds and other institutional investors own 3.38% of the company’s stock.

Shares of ING remained flat at $$12.60 during mid-day trading on Friday. 1,587,402 shares of the stock were exchanged, compared to its average volume of 3,164,344. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.40. The stock has a market capitalization of $49.03 billion, a price-to-earnings ratio of 7.68 and a beta of 1.23. ING Groep NV has a twelve month low of $10.21 and a twelve month high of $16.68.

ING Groep (NYSE:ING) last announced its earnings results on Wednesday, February 6th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter. ING Groep had a net margin of 26.05% and a return on equity of 9.19%. The business had revenue of $5.14 billion for the quarter. As a group, analysts expect that ING Groep NV will post 1.56 earnings per share for the current fiscal year.

The company also recently disclosed a semiannual dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a $0.4974 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a yield of 8.31%. ING Groep’s dividend payout ratio (DPR) is 49.39%.

ING has been the topic of several analyst reports. ValuEngine cut shares of ING Groep from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Societe Generale raised shares of ING Groep from a “hold” rating to a “buy” rating in a report on Wednesday, January 16th. Zacks Investment Research cut shares of ING Groep from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Credit Suisse Group upgraded shares of ING Groep from an “underperform” rating to a “neutral” rating in a research note on Tuesday, January 15th. Finally, Royal Bank of Canada upgraded shares of ING Groep from a “sector perform” rating to an “outperform” rating in a research report on Thursday, March 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. ING Groep presently has an average rating of “Hold”.

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ING Groep Company Profile

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.

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Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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