Highland Capital Management LLC Trims Stock Position in ING Groep (NYSE:ING)

Highland Capital Management LLC lowered its holdings in ING Groep (NYSE:ING) by 6.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,533 shares of the financial services provider’s stock after selling 7,810 shares during the quarter. Highland Capital Management LLC’s holdings in ING Groep were worth $1,826,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in ING Groep during the 4th quarter worth about $169,000. CWM LLC grew its holdings in shares of ING Groep by 18.5% during the fourth quarter. CWM LLC now owns 11,292 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 1,763 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of ING Groep in the 4th quarter valued at about $54,000. Bailard Inc. lifted its stake in ING Groep by 30.9% in the fourth quarter. Bailard Inc. now owns 27,572 shares of the financial services provider’s stock valued at $414,000 after buying an additional 6,505 shares during the last quarter. Finally, Callan Capital LLC acquired a new stake in shares of ING Groep in the fourth quarter valued at approximately $154,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Stock Performance

ING Groep stock traded down $0.06 during mid-day trading on Monday, reaching $17.79. 36,530 shares of the company were exchanged, compared to its average volume of 2,504,966. The firm’s 50-day simple moving average is $17.55 and its two-hundred day simple moving average is $16.55. ING Groep has a twelve month low of $12.44 and a twelve month high of $18.66. The firm has a market cap of $62.23 billion, a PE ratio of 7.87 and a beta of 1.54. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.12.

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

ING Groep Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 19th. Shareholders of record on Thursday, August 8th were given a dividend of $0.8143 per share. This is a positive change from ING Groep’s previous semi-annual dividend of $0.70. This represents a dividend yield of 5.9%. The ex-dividend date of this dividend was Thursday, August 8th. ING Groep’s payout ratio is presently 28.32%.

Wall Street Analysts Forecast Growth

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

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.