ING Groep (NYSE:ING) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC trimmed its holdings in ING Groep (NYSE:ING) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,902 shares of the financial services provider’s stock after selling 741 shares during the period. Drive Wealth Management LLC’s holdings in ING Groep were worth $171,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in shares of ING Groep in the third quarter worth $25,000. Brooklyn Investment Group increased its position in shares of ING Groep by 184.8% in the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,207 shares during the last quarter. Mather Group LLC. increased its position 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 purchasing an additional 782 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of ING Groep in the 4th quarter valued at about $45,000. Finally, Hexagon Capital Partners LLC lifted its position in shares of ING Groep by 22.3% during the third quarter. Hexagon Capital Partners LLC now owns 3,879 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 706 shares during the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup upgraded ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Morgan Stanley lowered shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 26th. Finally, Barclays downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 22nd.

ING Groep Trading Down 0.9 %

Shares of NYSE ING opened at $16.69 on Wednesday. ING Groep has a 12-month low of $12.77 and a 12-month high of $18.72. The company has a market cap of $58.37 billion, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 6.10 and a beta of 1.47. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The stock’s 50 day simple moving average is $15.75 and its 200 day simple moving average is $16.88.

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

ING Groep Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th were given a $0.1667 dividend. This represents a yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep’s dividend payout ratio (DPR) is 29.15%.

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.