Wealthstar Advisors LLC Invests $379,000 in ING Groep (NYSE:ING)

Wealthstar Advisors LLC bought a new stake in ING Groep (NYSE:ING) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 24,203 shares of the financial services provider’s stock, valued at approximately $379,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in ING Groep in the 3rd quarter valued at approximately $25,000. Brooklyn Investment Group increased its position in shares of ING Groep by 184.8% during the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,207 shares during the period. Mather Group LLC. raised its stake in shares of ING Groep by 57.3% in the third quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 782 shares in the last quarter. Versant Capital Management Inc bought a new position in ING Groep in the fourth quarter worth $45,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in ING Groep during the third quarter worth $91,000. 4.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 22nd. Morgan Stanley cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 26th. Finally, Citigroup upgraded ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th.

ING Groep Stock Down 0.3 %

Shares of NYSE ING opened at $16.43 on Monday. ING Groep has a 52-week low of $12.81 and a 52-week high of $18.72. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The business has a fifty day moving average of $15.96 and a two-hundred day moving average of $16.77. The stock has a market cap of $57.46 billion, a PE ratio of 7.68, a PEG ratio of 6.14 and a beta of 1.46.

ING Groep (NYSE:ING) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) 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%. As a group, equities research analysts expect that ING Groep will post 2.14 earnings per share 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 issued a $0.1667 dividend. This represents a dividend yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep’s payout ratio is currently 30.37%.

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.