Meridian Wealth Management LLC Grows Position in ING Groep (NYSE:ING)

Meridian Wealth Management LLC lifted its position in shares of ING Groep (NYSE:ING) by 1.0% in the fourth quarter, Holdings Channel reports. The firm owned 153,592 shares of the financial services provider’s stock after purchasing an additional 1,477 shares during the period. Meridian Wealth Management LLC’s holdings in ING Groep were worth $2,407,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Private Advisor Group LLC increased its holdings in ING Groep by 25.2% in the 3rd quarter. Private Advisor Group LLC now owns 20,853 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 4,196 shares in the last quarter. Blue Square Asset Management LLC boosted its position in shares of ING Groep by 2.4% in the third quarter. Blue Square Asset Management LLC now owns 124,961 shares of the financial services provider’s stock worth $2,269,000 after buying an additional 2,959 shares during the period. Verdence Capital Advisors LLC grew its stake in shares of ING Groep by 2.2% in the third quarter. Verdence Capital Advisors LLC now owns 51,547 shares of the financial services provider’s stock valued at $936,000 after buying an additional 1,105 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of ING Groep by 30.8% in the third quarter. Crossmark Global Holdings Inc. now owns 266,994 shares of the financial services provider’s stock valued at $4,849,000 after buying an additional 62,801 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in shares of ING Groep by 42.2% during the 3rd quarter. Zions Bancorporation N.A. now owns 52,427 shares of the financial services provider’s stock valued at $952,000 after buying an additional 15,547 shares during the period. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Stock Performance

ING Groep stock opened at $18.37 on Tuesday. ING Groep has a 12-month low of $14.04 and a 12-month high of $18.74. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $64.26 billion, a price-to-earnings ratio of 8.58, a price-to-earnings-growth ratio of 6.42 and a beta of 1.46. The firm’s fifty day moving average price is $16.51 and its 200 day moving average price is $16.76.

ING Groep (NYSE:ING) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate 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, research analysts forecast that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were paid a dividend of $0.1667 per share. This represents a dividend yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep’s dividend payout ratio (DPR) is currently 29.91%.

Analyst Upgrades and Downgrades

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

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.