Farther Finance Advisors LLC Has $537,000 Position in ING Groep (NYSE:ING)

Farther Finance Advisors LLC decreased its holdings in shares of ING Groep (NYSE:ING) by 38.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,548 shares of the financial services provider’s stock after selling 19,245 shares during the period. Farther Finance Advisors LLC’s holdings in ING Groep were worth $537,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in ING Groep by 9.9% during the fourth quarter. Russell Investments Group Ltd. now owns 11,073 shares of the financial services provider’s stock worth $166,000 after acquiring an additional 1,001 shares in the last quarter. Kestra Private Wealth Services LLC acquired a new stake in shares of ING Groep in the 4th quarter valued at about $261,000. Benjamin F. Edwards & Company Inc. acquired a new position in ING Groep during the 4th quarter worth approximately $235,000. M&T Bank Corp grew its stake in ING Groep by 129.8% in the fourth quarter. M&T Bank Corp now owns 39,127 shares of the financial services provider’s stock valued at $587,000 after acquiring an additional 22,102 shares during the period. Finally, Lincoln National Corp acquired a new position in shares of ING Groep during the fourth quarter worth approximately $384,000. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Groep Stock Down 2.1 %

ING stock opened at $17.83 on Wednesday. The firm has a market capitalization of $62.36 billion, a PE ratio of 7.89 and a beta of 1.54. The company has a quick ratio of 1.12, a current ratio of 0.95 and a debt-to-equity ratio of 2.54. ING Groep has a twelve month low of $12.44 and a twelve month high of $18.66. The stock’s 50 day moving average is $17.71 and its 200-day moving average is $16.79.

ING Groep (NYSE:ING) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. The business had revenue of $6.15 billion for the quarter. During the same quarter last year, the business posted $0.65 earnings per share. Sell-side analysts expect that ING Groep will post 2.02 EPS for the current fiscal year.

ING Groep Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 19th. Shareholders of record on Thursday, August 8th were given a $0.8143 dividend. This represents a yield of 5.9%. This is an increase from ING Groep’s previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Thursday, August 8th. ING Groep’s dividend payout ratio is presently 28.76%.

Analysts Set New Price Targets

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

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.