Highland Capital Management LLC Lowers Position in ING Groep (NYSE:ING)

Highland Capital Management LLC trimmed its stake in ING Groep (NYSE:ING) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,665 shares of the financial services provider’s stock after selling 868 shares during the period. Highland Capital Management LLC’s holdings in ING Groep were worth $1,919,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Natixis Advisors LLC increased its holdings in shares of ING Groep by 1.0% in the 2nd quarter. Natixis Advisors LLC now owns 1,930,085 shares of the financial services provider’s stock worth $33,082,000 after buying an additional 18,472 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in ING Groep by 17.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,695,710 shares of the financial services provider’s stock valued at $27,962,000 after purchasing an additional 257,440 shares in the last quarter. American Century Companies Inc. lifted its stake in ING Groep by 5.7% during the second quarter. American Century Companies Inc. now owns 1,124,581 shares of the financial services provider’s stock worth $19,275,000 after purchasing an additional 60,908 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of ING Groep by 49.7% in the 3rd quarter. Raymond James & Associates now owns 794,658 shares of the financial services provider’s stock worth $14,431,000 after purchasing an additional 263,904 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of ING Groep by 14.0% during the 1st quarter. Sei Investments Co. now owns 655,159 shares of the financial services provider’s stock valued at $10,804,000 after purchasing an additional 80,398 shares during the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Price Performance

ING opened at $16.84 on Friday. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12. ING Groep has a 1 year low of $12.44 and a 1 year high of $18.72. The stock’s 50 day simple moving average is $17.76 and its 200 day simple moving average is $17.45. The firm has a market cap of $58.91 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 6.58 and a beta of 1.52.

ING Groep (NYSE:ING) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. The business had revenue of $6.15 billion for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same period last year, the business earned $0.65 EPS. As a group, analysts predict that ING Groep will post 2.06 earnings per share for the current year.

ING Groep Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 19th. Shareholders of record on Thursday, August 8th were given a dividend of $0.8143 per share. This is a positive change from ING Groep’s previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Thursday, August 8th. This represents a yield of 5.9%. ING Groep’s dividend payout ratio is presently 29.68%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ING. Deutsche Bank Aktiengesellschaft downgraded ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Barclays cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Citigroup upgraded shares of ING Groep to a “strong-buy” rating in a research report on Thursday, October 17th.

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.