ING Groep (NYSE:ING) Holdings Cut by Financial Counselors Inc.

Financial Counselors Inc. trimmed its stake in shares of ING Groep (NYSE:ING) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 24,265 shares of the financial services provider’s stock after selling 614 shares during the period. Financial Counselors Inc.’s holdings in ING Groep were worth $416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Fisher Asset Management LLC increased its position in ING Groep by 8.5% in the fourth quarter. Fisher Asset Management LLC now owns 63,677,437 shares of the financial services provider’s stock worth $956,435,000 after buying an additional 4,995,615 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of ING Groep by 2,566.3% in the 4th quarter. BNP Paribas Financial Markets now owns 894,059 shares of the financial services provider’s stock worth $13,429,000 after acquiring an additional 860,527 shares during the period. Wells Fargo & Company MN lifted its position in ING Groep by 96.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,332,957 shares of the financial services provider’s stock valued at $20,021,000 after purchasing an additional 655,011 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in ING Groep by 7.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock valued at $128,693,000 after purchasing an additional 622,037 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of ING Groep by 150.1% in the second 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 purchasing an additional 359,535 shares during the period. Institutional investors own 4.49% of the company’s stock.

ING Groep Price Performance

NYSE ING opened at $17.79 on Thursday. ING Groep has a 12 month low of $12.44 and a 12 month high of $18.66. The firm has a market capitalization of $62.23 billion, a PE ratio of 7.87 and a beta of 1.52. The company’s 50 day simple moving average is $17.73 and its 200 day simple moving average is $16.80. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12.

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

ING Groep Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 19th. Shareholders of record on Thursday, August 8th were given a $0.8143 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This is a boost from ING Groep’s previous semi-annual dividend of $0.70. This represents a yield of 5.9%. ING Groep’s payout ratio is 28.32%.

Analyst Upgrades and Downgrades

Separately, Barclays upgraded ING Groep from an “equal weight” rating to an “overweight” rating in a research report 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.