Northwestern Mutual Wealth Management Co. Cuts Stock Position in ING Groep (NYSE:ING)

Northwestern Mutual Wealth Management Co. decreased its position in shares of ING Groep (NYSE:ING) by 21.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,982 shares of the financial services provider’s stock after selling 2,740 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in ING Groep were worth $171,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Financial Management Professionals Inc. increased 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 in the last quarter. Richardson Financial Services Inc. acquired a new position in ING Groep during the 4th quarter valued at about $28,000. Summit Securities Group LLC purchased a new stake in ING Groep in the second quarter valued at about $31,000. Rothschild Investment LLC acquired a new stake in ING Groep in the second quarter worth about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of ING Groep during the second quarter worth about $38,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Trading Up 0.7 %

NYSE:ING opened at $17.23 on Friday. The company has a market capitalization of $60.26 billion, a P/E ratio of 7.62 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 12 month low of $12.44 and a 12 month high of $18.72. The firm has a fifty day simple moving average of $17.70 and a 200-day simple moving average of $17.40.

ING Groep (NYSE:ING) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. The company 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 last year, the business earned $0.65 EPS. On average, equities research analysts anticipate that ING Groep will post 2.04 earnings per share for the current year.

ING Groep Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 19th. Investors of record on Thursday, August 8th were given a $0.8143 dividend. The ex-dividend date was Thursday, August 8th. This represents a yield of 5.9%. This is a positive change from ING Groep’s previous semi-annual dividend of $0.70. ING Groep’s dividend payout ratio is currently 28.32%.

Wall Street Analysts Forecast Growth

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

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.