Abundance Wealth Counselors Reduces Stock Position in ING Groep (NYSE:ING)

Abundance Wealth Counselors decreased its holdings in ING Groep (NYSE:ING) by 14.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 43,773 shares of the financial services provider’s stock after selling 7,586 shares during the quarter. Abundance Wealth Counselors’ holdings in ING Groep were worth $686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Fortitude Family Office LLC bought a new position in ING Groep in the 3rd quarter worth about $25,000. Brooklyn Investment Group boosted its holdings in shares of ING Groep by 184.8% in the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,207 shares during the period. Mather Group LLC. grew its stake in ING Groep by 57.3% in the third 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 in the last quarter. Versant Capital Management Inc purchased a new position in ING Groep during the 4th quarter worth $45,000. Finally, Hexagon Capital Partners LLC raised its position in ING Groep by 22.3% during 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 in the last quarter. 4.49% of the stock is currently owned by institutional investors.

ING Groep Trading Down 1.3 %

NYSE:ING opened at $16.57 on Friday. The firm has a 50 day moving average of $15.84 and a 200 day moving average of $16.85. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. ING Groep has a 52 week low of $12.77 and a 52 week high of $18.72. The stock has a market capitalization of $57.95 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 6.24 and a beta of 1.47.

ING Groep (NYSE:ING) last announced its earnings results on Thursday, October 31st. The financial services provider reported $0.65 earnings per share for the quarter. The firm had revenue of $6.49 billion for the quarter. ING Groep had a return on equity of 12.49% and a net margin of 30.06%. During the same quarter last year, the firm earned $0.61 earnings per share. As a group, sell-side analysts anticipate that ING Groep will post 2.09 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were paid a $0.1667 dividend. This represents a yield of 6.4%. The ex-dividend date of this dividend was Monday, January 13th. ING Groep’s dividend payout ratio (DPR) is presently 29.15%.

Analyst Ratings Changes

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

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.