Dorsey Wright & Associates Sells 41,157 Shares of ING Groep (NYSE:ING)

Dorsey Wright & Associates lessened its stake in ING Groep (NYSE:ING) by 23.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 133,658 shares of the financial services provider’s stock after selling 41,157 shares during the period. Dorsey Wright & Associates’ holdings in ING Groep were worth $2,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Roxbury Financial LLC acquired a new position in shares of ING Groep in the fourth quarter worth approximately $25,000. Brooklyn Investment Group lifted its position 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 worth $29,000 after purchasing an additional 1,207 shares during the period. Versant Capital Management Inc bought a new stake in shares of ING Groep in the 4th quarter valued at $45,000. IFP Advisors Inc increased its position in shares of ING Groep by 25.1% during the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock worth $48,000 after buying an additional 621 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in ING Groep during the fourth quarter worth $55,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded ING Groep from a “neutral” rating to a “buy” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

ING Groep Stock Performance

Shares of ING stock opened at $19.83 on Friday. The firm has a 50 day moving average of $18.09 and a 200-day moving average of $17.05. The company has a market cap of $69.35 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. ING Groep has a 52 week low of $15.09 and a 52 week high of $20.79.

ING Groep (NYSE:ING) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. On average, equities analysts forecast that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be issued a $0.6526 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a yield of 5.1%. This is a positive change from ING Groep’s previous semi-annual dividend of $0.17. ING Groep’s dividend payout ratio is presently 60.75%.

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.