Meritage Portfolio Management Increases Stake in ING Groep (NYSE:ING)

Meritage Portfolio Management grew its position in ING Groep (NYSE:ING) by 47.6% during the 4th quarter, Holdings Channel reports. The fund owned 273,556 shares of the financial services provider’s stock after buying an additional 88,196 shares during the quarter. Meritage Portfolio Management’s holdings in ING Groep were worth $4,287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ING. Fortitude Family Office LLC purchased a new stake in ING Groep in the 3rd quarter valued at approximately $25,000. Brooklyn Investment Group lifted its holdings in shares of ING Groep by 184.8% in the 4th 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. boosted its stake in shares of ING Groep by 57.3% in the third 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 in the last quarter. Versant Capital Management Inc acquired a new position in ING Groep during the fourth quarter worth $45,000. Finally, Hexagon Capital Partners LLC raised its position in ING Groep by 22.3% in the third quarter. Hexagon Capital Partners LLC now owns 3,879 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 706 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Groep Stock Up 2.4 %

ING Groep stock opened at $16.65 on Wednesday. ING Groep has a fifty-two week low of $12.77 and a fifty-two week high of $18.72. The firm has a market capitalization of $58.23 billion, a price-to-earnings ratio of 7.46, a price-to-earnings-growth ratio of 6.18 and a beta of 1.46. The stock’s fifty day moving average is $15.89 and its two-hundred day moving average is $16.81. 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 Cuts Dividend

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

Wall Street Analyst Weigh In

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

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.