King Luther Capital Management Corp Cuts Stake in ING Groep (NYSE:ING)

by · The Markets Daily

King Luther Capital Management Corp cut its holdings in ING Groep (NYSE:ING – Free Report) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,593 shares of the financial services provider’s stock after selling 1,243 shares during the period. King Luther Capital Management Corp’s holdings in ING Groep were worth $291,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ING. Pzena Investment Management LLC lifted its holdings in shares of ING Groep by 9.2% in the fourth quarter. Pzena Investment Management LLC now owns 54,540 shares of the financial services provider’s stock worth $855,000 after buying an additional 4,608 shares in the last quarter. Sage Mountain Advisors LLC bought a new stake in ING Groep in the 4th quarter valued at $157,000. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of ING Groep by 1.8% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 41,553 shares of the financial services provider’s stock valued at $651,000 after purchasing an additional 716 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of ING Groep by 7.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 90,752 shares of the financial services provider’s stock valued at $1,422,000 after purchasing an additional 6,516 shares in the last quarter. Finally, Callan Family Office LLC bought a new stake in shares of ING Groep in the fourth quarter worth about $980,000. 4.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on ING

ING Groep Stock Down 0.9 %

Shares of NYSE ING opened at $19.78 on Friday. The stock has a market capitalization of $69.18 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 6.42 and a beta of 1.44. ING Groep has a 12-month low of $15.09 and a 12-month high of $20.79. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The firm’s 50-day moving average price is $17.17 and its 200-day moving average price is $16.89.

ING Groep (NYSE:ING – Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. On average, equities research analysts anticipate that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were paid 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 dividend payout ratio is presently 29.91%.

ING Groep Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding ING? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ING Groep (NYSE:ING – Free Report).