Verdence Capital Advisors LLC Has $865,000 Holdings in ING Groep (NYSE:ING)

Verdence Capital Advisors LLC lowered its stake in shares of ING Groep (NYSE:ING) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,442 shares of the financial services provider’s stock after selling 1,540 shares during the quarter. Verdence Capital Advisors LLC’s holdings in ING Groep were worth $865,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ING. Bank of New York Mellon Corp lifted its stake in shares of ING Groep by 150.1% in the second quarter. Bank of New York Mellon Corp now owns 599,012 shares of the financial services provider’s stock valued at $10,267,000 after buying an additional 359,535 shares during the period. &PARTNERS increased its holdings in ING Groep by 78.7% in the 2nd quarter. &PARTNERS now owns 19,760 shares of the financial services provider’s stock valued at $339,000 after buying an additional 8,700 shares during the period. MFA Wealth Advisors LLC acquired a new position in shares of ING Groep in the 2nd quarter valued at $50,000. Aaron Wealth Advisors LLC increased its stake in ING Groep by 2.2% in the second quarter. Aaron Wealth Advisors LLC now owns 69,367 shares of the financial services provider’s stock valued at $1,189,000 after acquiring an additional 1,525 shares during the period. Finally, Fifth Third Bancorp raised its position in ING Groep by 2.6% in the second quarter. Fifth Third Bancorp now owns 72,760 shares of the financial services provider’s stock worth $1,247,000 after purchasing an additional 1,860 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Barclays upgraded ING Groep from an “equal weight” rating to an “overweight” rating in a research report on Friday, June 7th.

ING Groep Price Performance

Shares of ING stock remained flat at $17.86 during trading hours on Monday. 1,042,380 shares of the stock were exchanged, compared to its average volume of 2,511,099. ING Groep has a 12 month low of $12.44 and a 12 month high of $18.66. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12. The business has a fifty day moving average price of $17.55 and a two-hundred day moving average price of $16.55. The firm has a market cap of $62.46 billion, a P/E ratio of 7.87 and a beta of 1.54.

ING Groep (NYSE:ING) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 EPS for the quarter. ING Groep had a return on equity of 12.71% and a net margin of 30.60%. The firm had revenue of $6.15 billion during the quarter. During the same quarter in the previous year, the business earned $0.65 earnings per share. On average, research analysts anticipate that ING Groep will post 2.02 earnings per share for the current year.

ING Groep Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 19th. Stockholders of record on Thursday, August 8th were paid a $0.8143 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This is a boost from ING Groep’s previous semi-annual dividend of $0.70. This represents a dividend yield of 5.9%. ING Groep’s dividend payout ratio is 28.32%.

About ING Groep

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.