ING Groep (NYSE:ING) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC trimmed its holdings in shares of ING Groep (NYSE:ING) by 6.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,902 shares of the financial services provider’s stock after selling 741 shares during the quarter. Drive Wealth Management LLC’s holdings in ING Groep were worth $171,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ING. Valeo Financial Advisors LLC increased its stake in ING Groep by 6.5% during the 3rd quarter. Valeo Financial Advisors LLC now owns 11,243 shares of the financial services provider’s stock valued at $204,000 after buying an additional 684 shares during the period. Wedmont Private Capital boosted its holdings in shares of ING Groep by 6.6% in the third quarter. Wedmont Private Capital now owns 11,047 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 688 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of ING Groep by 22.3% during the third 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. Mather Group LLC. raised its holdings in ING Groep by 57.3% during the third quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 782 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its stake in ING Groep by 1.7% during the 4th quarter. Confluence Investment Management LLC now owns 48,238 shares of the financial services provider’s stock valued at $756,000 after purchasing an additional 790 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors.

ING Groep Stock Performance

Shares of NYSE ING opened at $16.69 on Wednesday. The stock’s fifty day simple moving average is $15.75 and its 200 day simple moving average is $16.88. The stock has a market capitalization of $58.37 billion, a price-to-earnings ratio of 7.48, a PEG ratio of 6.10 and a beta of 1.47. 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 $12.77 and a 52-week high of $18.72.

ING Groep (NYSE:ING) last posted its quarterly earnings data on Thursday, October 31st. The financial services provider reported $0.65 earnings per share (EPS) for the quarter. ING Groep had a return on equity of 12.49% and a net margin of 30.06%. The firm had revenue of $6.49 billion for the quarter. During the same quarter in the previous year, the firm posted $0.61 EPS. As a group, sell-side analysts forecast that ING Groep will post 2.09 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

The company 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. This represents a yield of 6.4%. The ex-dividend date of this dividend was Monday, January 13th. ING Groep’s dividend payout ratio is 29.15%.

Wall Street Analyst Weigh In

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

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.