Sage Mountain Advisors LLC Purchases New Shares in ING Groep (NYSE:ING)

Sage Mountain Advisors LLC acquired a new position in ING Groep (NYSE:ING) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 10,027 shares of the financial services provider’s stock, valued at approximately $157,000.

Several other hedge funds have also recently bought and sold shares of ING. State Street Corp raised its stake in shares of ING Groep by 1.3% during the 3rd quarter. State Street Corp now owns 358,479 shares of the financial services provider’s stock worth $6,510,000 after purchasing an additional 4,542 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of ING Groep by 18.7% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 92,045 shares of the financial services provider’s stock worth $1,442,000 after purchasing an additional 14,476 shares in the last quarter. ABC Arbitrage SA purchased a new stake in shares of ING Groep during the 4th quarter worth about $10,129,000. Massachusetts Financial Services Co. MA bought a new position in shares of ING Groep in the 3rd quarter valued at approximately $2,428,000. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of ING Groep by 97.4% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 51,922 shares of the financial services provider’s stock valued at $814,000 after acquiring an additional 25,624 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

ING Groep Price Performance

Shares of NYSE:ING opened at $19.97 on Thursday. ING Groep has a 1-year low of $15.09 and a 1-year high of $20.79. The firm has a market capitalization of $69.84 billion, a PE ratio of 9.33, a PEG ratio of 6.42 and a beta of 1.44. The business’s 50 day moving average is $17.09 and its 200-day moving average is $16.87. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89.

ING Groep (NYSE:ING) last posted its 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%. Sell-side analysts predict that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were given a dividend of $0.1667 per share. The ex-dividend date was Monday, January 13th. This represents a dividend yield of 6.4%. 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.