Park Place Capital Corp Sells 5,118 Shares of ING Groep (NYSE:ING)

Park Place Capital Corp lowered its stake in ING Groep (NYSE:ING) by 27.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,454 shares of the financial services provider’s stock after selling 5,118 shares during the period. Park Place Capital Corp’s holdings in ING Groep were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Financial Management Professionals Inc. grew its stake in ING Groep by 67.8% during the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 662 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in shares of ING Groep in the 4th quarter worth approximately $28,000. GAMMA Investing LLC purchased a new stake in ING Groep during the 4th quarter valued at $54,000. EntryPoint Capital LLC purchased a new position in ING Groep during the first quarter worth $67,000. Finally, NBC Securities Inc. raised its stake in shares of ING Groep by 24.5% in the fourth quarter. NBC Securities Inc. now owns 4,093 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 805 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Barclays raised shares of ING Groep from an “equal weight” rating to an “overweight” rating in a research report on Friday, June 7th.

ING Groep Stock Down 2.0 %

Shares of ING Groep stock traded down $0.35 on Monday, reaching $16.74. The stock had a trading volume of 1,759,513 shares, compared to its average volume of 2,591,990. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.68. The stock has a market capitalization of $58.56 billion, a P/E ratio of 7.42 and a beta of 1.54. The company has a 50 day moving average price of $17.67 and a 200 day moving average price of $16.20. ING Groep has a 1 year low of $12.44 and a 1 year high of $18.66.

ING Groep (NYSE:ING) last announced its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The business had revenue of $6.15 billion for the quarter. ING Groep had a return on equity of 12.71% and a net margin of 30.60%. During the same period in the prior year, the company posted $0.65 earnings per share. As a group, equities research analysts forecast that ING Groep will post 2.02 EPS for the current year.

ING Groep Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, August 19th. Stockholders of record on Thursday, August 8th will be issued a dividend of $0.8143 per share. This represents a dividend yield of 5.9%. This is a positive change from ING Groep’s previous semi-annual dividend of $0.70. The ex-dividend date is Thursday, August 8th. ING Groep’s payout ratio is 61.06%.

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.