Genesee Capital Advisors LLC Decreases Stock Position in ING Groep (NYSE:ING)

Genesee Capital Advisors LLC reduced its position in ING Groep (NYSE:ING) by 15.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,237 shares of the financial services provider’s stock after selling 8,752 shares during the period. Genesee Capital Advisors LLC’s holdings in ING Groep were worth $858,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ING. Bank of New York Mellon Corp raised its stake in ING Groep by 150.1% during the 2nd 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 last quarter. Benson Investment Management Company Inc. purchased a new stake in ING Groep during the 3rd quarter valued at $5,204,000. Acadian Asset Management LLC purchased a new stake in ING Groep during the 2nd quarter valued at $4,626,000. Raymond James & Associates raised its stake in ING Groep by 49.7% during the 3rd quarter. Raymond James & Associates now owns 794,658 shares of the financial services provider’s stock valued at $14,431,000 after buying an additional 263,904 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its stake in ING Groep by 17.9% during the 1st 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 buying an additional 257,440 shares during the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ING shares. Deutsche Bank Aktiengesellschaft downgraded shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Citigroup raised shares of ING Groep to a “strong-buy” rating in a research report on Thursday.

ING Groep Price Performance

ING Groep stock traded down $0.18 during mid-day trading on Monday, hitting $17.20. The stock had a trading volume of 1,451,287 shares, compared to its average volume of 2,335,802. The firm has a market capitalization of $60.17 billion, a P/E ratio of 7.65 and a beta of 1.52. The company has a current ratio of 0.95, a quick ratio of 1.12 and a debt-to-equity ratio of 2.54. The firm’s 50 day moving average is $17.77 and its 200 day moving average is $17.45. ING Groep has a one year low of $12.44 and a one year high of $18.72.

ING Groep (NYSE:ING) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The company had revenue of $6.15 billion during the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same period in the prior year, the company posted $0.65 EPS. On average, sell-side analysts forecast that ING Groep will post 2.04 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 19th. Investors of record on Thursday, August 8th were issued a $0.8143 dividend. The ex-dividend date was Thursday, August 8th. This represents a yield of 5.9%. This is an increase from ING Groep’s previous semi-annual dividend of $0.70. ING Groep’s dividend payout ratio is currently 28.32%.

ING Groep Company 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.