King Luther Capital Management Corp Sells 1,243 Shares of ING Groep (NYSE:ING)

King Luther Capital Management Corp lowered its holdings in shares of ING Groep (NYSE:ING) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,593 shares of the financial services provider’s stock after selling 1,243 shares during the quarter. King Luther Capital Management Corp’s holdings in ING Groep were worth $291,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ING. Roxbury Financial LLC purchased a new stake in shares of ING Groep during the fourth quarter valued at $25,000. Brooklyn Investment Group lifted its holdings in ING Groep by 184.8% during the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,207 shares in the last quarter. Versant Capital Management Inc purchased a new stake in ING Groep in the 4th quarter valued at about $45,000. IFP Advisors Inc grew its stake in ING Groep by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 621 shares in the last quarter. Finally, Whipplewood Advisors LLC purchased a new position in shares of ING Groep during the fourth quarter worth approximately $55,000. Institutional investors own 4.49% of the company’s stock.

ING Groep Stock Performance

Shares of NYSE:ING opened at $19.78 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. The company has a market capitalization of $69.18 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44. The firm has a 50 day moving average of $17.17 and a 200 day moving average of $16.89. ING Groep has a 52 week low of $15.09 and a 52 week high of $20.79.

ING Groep (NYSE:ING) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. On average, sell-side analysts predict that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th were given a dividend of $0.1667 per share. This represents a dividend yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep’s payout ratio is 29.91%.

Analysts Set New Price Targets

Separately, Morgan Stanley downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th.

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.