Capital Investment Counsel LLC Has $7.04 Million Stock Holdings in ING Group, N.V. $ING

Capital Investment Counsel LLC lowered its holdings in shares of ING Group, N.V. (NYSE:ING) by 7.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 270,010 shares of the financial services provider’s stock after selling 21,300 shares during the period. Capital Investment Counsel LLC’s holdings in ING Group were worth $7,042,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Abound Wealth Management grew its position in ING Group by 2,757.6% in the third quarter. Abound Wealth Management now owns 943 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 910 shares during the last quarter. Salomon & Ludwin LLC boosted its stake in shares of ING Group by 2,440.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 1,245 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 1,196 shares in the last quarter. Rexford Capital Inc. bought a new stake in shares of ING Group during the 2nd quarter valued at approximately $33,000. Root Financial Partners LLC bought a new stake in shares of ING Group during the 3rd quarter valued at approximately $34,000. Finally, Private Trust Co. NA increased its position in ING Group by 210.3% during the 3rd quarter. Private Trust Co. NA now owns 1,626 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 1,102 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors.

ING Group Stock Down 4.4%

Shares of NYSE:ING opened at $28.82 on Friday. The firm has a market cap of $83.88 billion, a P/E ratio of 12.06, a P/E/G ratio of 0.98 and a beta of 0.80. ING Group, N.V. has a 12-month low of $16.47 and a 12-month high of $31.17. The business has a fifty day simple moving average of $28.63 and a 200 day simple moving average of $26.15. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.

ING Group (NYSE:ING) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. ING Group had a return on equity of 12.26% and a net margin of 27.50%.The firm had revenue of $4.61 billion for the quarter, compared to analyst estimates of $6.67 billion. Analysts predict that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Dividend Announcement

The company also recently announced a dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be given a dividend of $0.8796 per share. This represents a yield of 589.0%. The ex-dividend date of this dividend is Friday, April 17th. ING Group’s dividend payout ratio is currently 28.87%.

Wall Street Analyst Weigh In

ING has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a research report on Monday, December 29th. Citigroup upgraded ING Group to a “strong-buy” rating in a research note on Friday, November 21st. Jefferies Financial Group began coverage on ING Group in a research report on Tuesday, January 27th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded ING Group from a “hold” rating to a “buy” rating in a research report on Monday, February 2nd. Finally, Zacks Research upgraded ING Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, ING Group has an average rating of “Buy”.

ING Group Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.