Letko Brosseau & Associates Inc. lowered its position in ING Groep NV (NYSE:ING) by 2.8% in the 4th quarter, HoldingsChannel reports. The fund owned 225,972 shares of the financial services provider’s stock after selling 6,572 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in ING Groep were worth $4,171,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. We Are One Seven LLC bought a new position in shares of ING Groep in the 4th quarter worth approximately $101,000. Schafer Cullen Capital Management Inc. raised its position in shares of ING Groep by 2.0% in the 4th quarter. Schafer Cullen Capital Management Inc. now owns 4,847,183 shares of the financial services provider’s stock worth $89,479,000 after acquiring an additional 96,273 shares in the last quarter. Lake Street Advisors Group LLC bought a new position in shares of ING Groep in the 4th quarter worth approximately $246,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of ING Groep by 48.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,981 shares of the financial services provider’s stock worth $405,000 after acquiring an additional 7,128 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of ING Groep by 6.2% in the 4th quarter. Raymond James & Associates now owns 552,708 shares of the financial services provider’s stock worth $10,203,000 after acquiring an additional 32,399 shares in the last quarter. 3.23% of the stock is owned by hedge funds and other institutional investors.
Shares of ING Groep stock opened at $16.73 on Thursday. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $67,340.74, a P/E ratio of 12.20, a P/E/G ratio of 1.42 and a beta of 1.28. ING Groep NV has a 52 week low of $14.55 and a 52 week high of $20.58.
ING Groep (NYSE:ING) last posted its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $0.31 earnings per share for the quarter. The company had revenue of $5.14 billion for the quarter. ING Groep had a return on equity of 10.22% and a net margin of 27.70%. analysts forecast that ING Groep NV will post 1.71 earnings per share for the current fiscal year.
The business also recently declared a semiannual dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, April 26th will be paid a $0.5344 dividend. The ex-dividend date of this dividend is Wednesday, April 25th. This represents a dividend yield of 5.77%. This is an increase from ING Groep’s previous semiannual dividend of $0.45. ING Groep’s dividend payout ratio is presently 43.26%.
Several brokerages have recently issued reports on ING. Zacks Investment Research raised ING Groep from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research report on Tuesday, January 16th. UBS reissued a “buy” rating on shares of ING Groep in a research report on Monday, December 11th. ValuEngine raised ING Groep from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Finally, Goldman Sachs restated a “buy” rating on shares of ING Groep in a research note on Wednesday, December 6th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $18.00.
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About ING Groep
ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.
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