C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases 722 Shares of ING Groep (NYSE:ING)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its position in ING Groep (NYSE:ING) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,604 shares of the financial services provider’s stock after acquiring an additional 722 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in ING Groep were worth $229,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ING. BKM Wealth Management LLC boosted its position in ING Groep by 5.9% during the fourth quarter. BKM Wealth Management LLC now owns 35,034 shares of the financial services provider’s stock valued at $549,000 after buying an additional 1,937 shares during the period. NTV Asset Management LLC purchased a new stake in ING Groep during the fourth quarter valued at about $158,000. Sierra Ocean LLC purchased a new stake in ING Groep during the fourth quarter valued at about $65,000. Strategic Financial Concepts LLC purchased a new stake in ING Groep during the fourth quarter valued at about $248,000. Finally, Principal Securities Inc. boosted its position in ING Groep by 689.6% during the fourth quarter. Principal Securities Inc. now owns 18,896 shares of the financial services provider’s stock valued at $296,000 after buying an additional 16,503 shares during the period. Institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley lowered shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th.

ING Groep Price Performance

ING stock opened at $17.24 on Friday. ING Groep has a 1 year low of $13.57 and a 1 year high of $18.72. The company has a market cap of $60.29 billion, a P/E ratio of 8.05, a PEG ratio of 6.50 and a beta of 1.46. The firm has a 50-day moving average of $16.19 and a 200 day moving average of $16.72. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13.

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

ING Groep Cuts Dividend

The business also recently declared 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 was Monday, January 13th. ING Groep’s payout ratio is currently 29.91%.

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.