Highland Capital Management LLC Sells 2,635 Shares of ING Groep (NYSE:ING)

Highland Capital Management LLC trimmed its position in ING Groep (NYSE:ING) by 2.5% in the fourth quarter, Holdings Channel reports. The fund owned 103,030 shares of the financial services provider’s stock after selling 2,635 shares during the quarter. Highland Capital Management LLC’s holdings in ING Groep were worth $1,614,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ING. Fortitude Family Office LLC acquired a new position in ING Groep in the 3rd quarter worth about $25,000. Brooklyn Investment Group increased its stake in shares of ING Groep by 184.8% in the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,207 shares during the period. Mather Group LLC. raised its holdings in ING Groep by 57.3% in the 3rd quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock valued at $39,000 after buying an additional 782 shares during the last quarter. Versant Capital Management Inc bought a new stake in ING Groep during the 4th quarter worth approximately $45,000. Finally, Hexagon Capital Partners LLC increased its position in 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 acquiring an additional 706 shares during the period. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ING. Morgan Stanley cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 26th. Citigroup upgraded ING Groep to a “strong-buy” rating in a research report on Thursday, October 17th. Barclays downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft cut ING Groep from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th.

ING Groep Price Performance

ING stock opened at $16.80 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. The firm has a market cap of $58.75 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 6.10 and a beta of 1.47. The company’s fifty day simple moving average is $15.79 and its 200 day simple moving average is $16.86. ING Groep has a 12-month low of $12.77 and a 12-month high of $18.72.

ING Groep (NYSE:ING) last announced its earnings results 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 return on equity of 12.49% and a net margin of 30.06%. During the same quarter in the previous year, the company earned $0.61 EPS. On average, analysts expect that ING Groep will post 2.09 earnings per share for the current 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 issued a dividend of $0.1667 per share. This represents a dividend yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep’s payout ratio is 29.15%.

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.