Prime Capital Investment Advisors LLC Decreases Position in ING Groep (NYSE:ING)

Prime Capital Investment Advisors LLC decreased its position in shares of ING Groep (NYSE:ING) by 10.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,760 shares of the financial services provider’s stock after selling 9,357 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in ING Groep were worth $1,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ING. Sei Investments Co. boosted 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 last quarter. Capital Research Global Investors increased its holdings in ING Groep by 51.2% in the 1st quarter. Capital Research Global Investors now owns 203,780 shares of the financial services provider’s stock worth $3,360,000 after buying an additional 68,966 shares in the last quarter. Confluence Investment Management LLC purchased a new position in ING Groep in the 1st quarter worth about $807,000. Lighthouse Investment Partners LLC bought a new position in ING Groep during the 4th quarter valued at about $1,402,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of 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 acquiring an additional 622,037 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Groep Stock Up 0.2 %

ING Groep stock opened at $18.24 on Wednesday. ING Groep has a one year low of $12.44 and a one year high of $18.66. The stock has a fifty day moving average of $17.79 and a 200 day moving average of $17.09. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.12 and a current ratio of 0.95. The stock has a market cap of $63.81 billion, a PE ratio of 8.07 and a beta of 1.52.

ING Groep (NYSE:ING) last released 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 business had revenue of $6.15 billion during the quarter. During the same quarter in the prior year, the firm earned $0.65 earnings per share. As a group, sell-side analysts predict that ING Groep will post 2.02 EPS for the current 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 an increase from ING Groep’s previous semi-annual dividend of $0.70. This represents a yield of 5.9%. ING Groep’s dividend payout ratio (DPR) is presently 28.32%.

Analyst Upgrades and Downgrades

Separately, Barclays raised shares of ING Groep from an “equal weight” rating to an “overweight” rating in a 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.