GC Wealth Management RIA LLC Decreases Stock Position in ING Groep (NYSE:ING)

GC Wealth Management RIA LLC cut its position in ING Groep (NYSE:ING) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,443 shares of the financial services provider’s stock after selling 744 shares during the quarter. GC Wealth Management RIA LLC’s holdings in ING Groep were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC boosted its stake in shares of ING Groep by 0.6% in the third quarter. Fisher Asset Management LLC now owns 68,451,083 shares of the financial services provider’s stock valued at $1,243,072,000 after purchasing an additional 429,562 shares during the period. Natixis Advisors LLC boosted its stake in shares of ING Groep by 71.3% in the third quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock valued at $60,051,000 after purchasing an additional 1,376,713 shares during the period. Todd Asset Management LLC raised its holdings in ING Groep by 1.6% in the fourth quarter. Todd Asset Management LLC now owns 2,771,941 shares of the financial services provider’s stock valued at $43,436,000 after acquiring an additional 42,851 shares in the last quarter. HighTower Advisors LLC raised its holdings in ING Groep by 1.7% in the third quarter. HighTower Advisors LLC now owns 948,188 shares of the financial services provider’s stock valued at $17,180,000 after acquiring an additional 15,964 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in ING Groep during the 4th quarter valued at $14,375,000. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Groep Trading Down 0.4 %

NYSE ING opened at $19.89 on Wednesday. ING Groep has a 12 month low of $15.09 and a 12 month high of $20.79. 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 $69.58 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44. The company’s fifty day moving average price is $17.00 and its two-hundred day moving average price is $16.85.

ING Groep (NYSE:ING) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. As a group, research analysts predict that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

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

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note 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.