Pacer Advisors Inc. Trims Stock Holdings in ING Groep (NYSE:ING)

Pacer Advisors Inc. reduced its holdings in shares of ING Groep (NYSE:ING) by 11.8% in the second quarter, Holdings Channel.com reports. The fund owned 48,935 shares of the financial services provider’s stock after selling 6,557 shares during the quarter. Pacer Advisors Inc.’s holdings in ING Groep were worth $839,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ING. Financial Management Professionals Inc. lifted its position in shares of ING Groep by 67.8% during the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 662 shares during the last quarter. Richardson Financial Services Inc. bought a new stake in ING Groep during the 4th quarter valued at about $28,000. Summit Securities Group LLC bought a new stake in ING Groep during the 2nd quarter valued at about $31,000. Rothschild Investment LLC purchased a new stake in ING Groep in the 2nd quarter valued at about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in ING Groep in the 2nd quarter worth about $38,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Analysts Set New Price Targets

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

ING Groep Price Performance

Shares of ING stock opened at $18.34 on Friday. The stock has a market capitalization of $64.16 billion, a price-to-earnings ratio of 8.12 and a beta of 1.52. The company has a current ratio of 0.95, a quick ratio of 1.12 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 $18.72. The stock has a fifty day simple moving average of $17.82 and a two-hundred day simple moving average of $17.29.

ING Groep (NYSE:ING) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The company had revenue of $6.15 billion during the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same period last year, the company earned $0.65 earnings per share. On average, analysts predict that ING Groep will post 2.04 EPS for the current fiscal year.

ING Groep Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 19th. Investors of record on Thursday, August 8th were issued a dividend of $0.8143 per share. This represents a yield of 5.9%. This is a positive change 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 (DPR) is presently 28.32%.

About ING Groep

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.