Fifth Third Bancorp Lowers Position in ING Groep (NYSE:ING)

Fifth Third Bancorp trimmed its holdings in shares of ING Groep (NYSE:ING) by 23.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,359 shares of the financial services provider’s stock after selling 17,329 shares during the quarter. Fifth Third Bancorp’s holdings in ING Groep were worth $883,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Fortitude Family Office LLC acquired a new position in shares of ING Groep in the 3rd quarter worth approximately $25,000. Brooklyn Investment Group lifted its stake in ING Groep by 184.8% during the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,207 shares in the last quarter. Mather Group LLC. boosted its position in shares of ING Groep by 57.3% during the third quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock worth $39,000 after buying an additional 782 shares during the period. Versant Capital Management Inc acquired a new stake in shares of ING Groep in the fourth quarter valued at $45,000. Finally, Hexagon Capital Partners LLC raised its holdings in shares of ING Groep by 22.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 3,879 shares of the financial services provider’s stock valued at $70,000 after buying an additional 706 shares during the period. Institutional investors and hedge funds own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays cut ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Citigroup raised shares of ING Groep to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley lowered ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th.

ING Groep Stock Up 0.3 %

ING stock opened at $16.74 on Thursday. The company’s 50 day moving average price is $15.77 and its 200 day moving average price is $16.87. The firm has a market capitalization of $58.54 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 6.10 and a beta of 1.47. ING Groep has a fifty-two week low of $12.77 and a fifty-two week high of $18.72. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13.

ING Groep (NYSE:ING) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $0.65 EPS for the quarter. The company had revenue of $6.49 billion for the quarter. ING Groep had a net margin of 30.06% and a return on equity of 12.49%. During the same period in the prior year, the company posted $0.61 earnings per share. On average, equities research analysts anticipate that ING Groep will post 2.09 EPS for the current fiscal year.

ING Groep Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th were paid a $0.1667 dividend. This represents a yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep’s dividend payout ratio is presently 29.15%.

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.