Traveka Wealth LLC Reduces Holdings in ING Groep (NYSE:ING)

Traveka Wealth LLC lessened its stake in shares of ING Groep (NYSE:ING) by 5.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,793 shares of the financial services provider’s stock after selling 740 shares during the period. Traveka Wealth LLC’s holdings in ING Groep were worth $185,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Fortitude Family Office LLC purchased a new stake in shares of ING Groep in the third quarter valued at $25,000. Mather Group LLC. lifted its stake in shares of ING Groep by 57.3% during 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 period. Ashton Thomas Private Wealth LLC acquired a new stake in ING Groep in the 2nd quarter worth about $41,000. Versant Capital Management Inc purchased a new position in shares of ING Groep during the 4th quarter worth about $45,000. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of ING Groep by 22.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 3,879 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 706 shares during the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Stock Performance

Shares of ING stock opened at $15.89 on Tuesday. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The company’s 50-day simple moving average is $15.65 and its 200-day simple moving average is $16.97. ING Groep has a one year low of $12.77 and a one year high of $18.72. The stock has a market capitalization of $55.59 billion, a price-to-earnings ratio of 7.13, a PEG ratio of 5.97 and a beta of 1.47.

ING Groep Cuts Dividend

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on ING shares. Citigroup raised ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th. Morgan Stanley downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft cut shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. 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 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.