Capital Investment Counsel LLC Raises Position in ING Groep (NYSE:ING)

Capital Investment Counsel LLC boosted its position in shares of ING Groep (NYSE:ING) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,451 shares of the financial services provider’s stock after buying an additional 3,947 shares during the period. Capital Investment Counsel LLC’s holdings in ING Groep were worth $4,630,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of ING Groep during the third quarter worth approximately $25,000. Brooklyn Investment Group grew its holdings in shares of ING Groep by 184.8% during the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,207 shares in the last quarter. Mather Group LLC. raised its position in shares of ING Groep by 57.3% in the third quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock valued at $39,000 after buying an additional 782 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of ING Groep in the fourth quarter worth about $45,000. Finally, Hexagon Capital Partners LLC lifted its stake in shares of ING Groep by 22.3% in the third quarter. Hexagon Capital Partners LLC now owns 3,879 shares of the financial services provider’s stock worth $70,000 after buying an additional 706 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

ING Groep Stock Down 0.9 %

Shares of NYSE ING opened at $16.69 on Wednesday. The company has a 50 day simple moving average of $15.75 and a 200-day simple moving average of $16.88. The company has a market capitalization of $58.37 billion, a P/E ratio of 7.48, a P/E/G ratio of 6.10 and a beta of 1.47. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. ING Groep has a 1 year low of $12.77 and a 1 year high of $18.72.

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. ING Groep had a return on equity of 12.49% and a net margin of 30.06%. The company had revenue of $6.49 billion during the quarter. During the same period last year, the business earned $0.61 EPS. On average, equities research analysts predict that ING Groep will post 2.09 earnings per share for the current year.

ING Groep Cuts Dividend

The business 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. The ex-dividend date was Monday, January 13th. This represents a yield of 6.4%. ING Groep’s payout ratio is currently 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.