Mount Yale Investment Advisors LLC Sells 638 Shares of ING Groep (NYSE:ING)

Mount Yale Investment Advisors LLC lessened its holdings in shares of ING Groep (NYSE:ING) by 1.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 35,338 shares of the financial services provider’s stock after selling 638 shares during the period. Mount Yale Investment Advisors LLC’s holdings in ING Groep were worth $606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ING. Janney Montgomery Scott LLC increased its position in ING Groep by 85.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 69,174 shares of the financial services provider’s stock valued at $1,039,000 after acquiring an additional 31,848 shares in the last quarter. PNC Financial Services Group Inc. raised its position in ING Groep by 8.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 97,975 shares of the financial services provider’s stock worth $1,472,000 after purchasing an additional 7,353 shares during the last quarter. Coldstream Capital Management Inc. bought a new position in ING Groep in the 4th quarter worth approximately $171,000. Wells Fargo & Company MN lifted its holdings in ING Groep by 96.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,332,957 shares of the financial services provider’s stock worth $20,021,000 after buying an additional 655,011 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in ING Groep by 1.1% in the 4th quarter. Corient Private Wealth LLC now owns 125,244 shares of the financial services provider’s stock valued at $1,881,000 after buying an additional 1,307 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

ING Groep Price Performance

Shares of ING stock opened at $18.40 on Tuesday. The firm’s 50 day moving average price is $17.82 and its two-hundred day moving average price is $17.21. The stock has a market cap of $64.35 billion, a PE ratio of 8.14 and a beta of 1.52. ING Groep has a 52-week low of $12.44 and a 52-week high of $18.72. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.12 and a current ratio of 0.95.

ING Groep (NYSE:ING) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 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 period last year, the firm earned $0.65 earnings per share. As a group, analysts forecast that ING Groep will post 2.02 EPS for the current year.

ING Groep Increases Dividend

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

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.