ING Groep (NYSE:ING) Position Reduced by Raymond James & Associates

Raymond James & Associates reduced its position in ING Groep (NYSE:ING) by 8.6% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 530,754 shares of the financial services provider’s stock after selling 49,625 shares during the quarter. Raymond James & Associates’ holdings in ING Groep were worth $9,097,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Sei Investments Co. raised its stake in ING Groep by 14.0% during the 1st quarter. Sei Investments Co. now owns 655,159 shares of the financial services provider’s stock valued at $10,804,000 after purchasing an additional 80,398 shares during the period. Capital Research Global Investors boosted its position in ING Groep by 51.2% during the 1st quarter. Capital Research Global Investors now owns 203,780 shares of the financial services provider’s stock worth $3,360,000 after acquiring an additional 68,966 shares during the period. Confluence Investment Management LLC purchased a new position in ING Groep during the 1st quarter valued at about $807,000. Lighthouse Investment Partners LLC acquired a new position in shares of ING Groep in the 4th quarter valued at about $1,402,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of ING Groep by 7.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock worth $128,693,000 after purchasing an additional 622,037 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Stock Performance

Shares of ING stock opened at $17.85 on Monday. ING Groep has a fifty-two week low of $12.44 and a fifty-two week high of $18.66. The stock’s 50-day moving average is $17.55 and its two-hundred day moving average is $16.55. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $62.44 billion, a P/E ratio of 7.90 and a beta of 1.54.

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

ING Groep Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 19th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.8143 per share. This is a positive change from ING Groep’s previous semi-annual dividend of $0.70. This represents a yield of 5.9%. The ex-dividend date of this dividend was Thursday, August 8th. ING Groep’s dividend payout ratio (DPR) is 28.32%.

Wall Street Analyst Weigh In

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

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.