Park Avenue Securities LLC Has $477,000 Position in ING Groep (NYSE:ING)

Park Avenue Securities LLC lowered its holdings in ING Groep (NYSE:ING) by 22.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,276 shares of the financial services provider’s stock after selling 7,774 shares during the quarter. Park Avenue Securities LLC’s holdings in ING Groep were worth $477,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its stake in shares of ING Groep by 8.5% in the 4th quarter. Fisher Asset Management LLC now owns 63,677,437 shares of the financial services provider’s stock valued at $956,435,000 after purchasing an additional 4,995,615 shares during the period. Goldman Sachs Group Inc. raised its stake in ING Groep by 7.8% during 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 acquiring an additional 622,037 shares in the last quarter. Natixis Advisors LLC raised its stake in ING Groep by 1.0% during the second quarter. Natixis Advisors LLC now owns 1,930,085 shares of the financial services provider’s stock worth $33,082,000 after acquiring an additional 18,472 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of ING Groep by 17.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,695,710 shares of the financial services provider’s stock valued at $27,962,000 after acquiring an additional 257,440 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of ING Groep by 5.7% in the 2nd quarter. American Century Companies Inc. now owns 1,124,581 shares of the financial services provider’s stock valued at $19,275,000 after purchasing an additional 60,908 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft cut shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday.

ING Groep Stock Performance

NYSE:ING opened at $17.43 on Friday. The stock has a market capitalization of $60.96 billion, a P/E ratio of 7.96 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 1 year low of $12.44 and a 1 year high of $18.72. The firm has a 50 day moving average of $17.70 and a 200-day moving average of $17.41.

ING Groep (NYSE:ING) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. The firm had revenue of $6.15 billion during the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. During the same quarter in the previous year, the firm posted $0.65 EPS. As a group, sell-side analysts anticipate that ING Groep will post 2.04 EPS for the current fiscal year.

ING Groep Increases Dividend

The business 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%. The ex-dividend date was Thursday, August 8th. This is a boost from ING Groep’s previous semi-annual dividend of $0.70. ING Groep’s dividend payout ratio (DPR) is presently 29.68%.

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.