Wells Fargo & Company MN Sells 193,537 Shares of ING Groep (NYSE:ING)

Wells Fargo & Company MN cut its holdings in ING Groep (NYSE:ING) by 10.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,605,291 shares of the financial services provider’s stock after selling 193,537 shares during the quarter. Wells Fargo & Company MN’s holdings in ING Groep were worth $25,155,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Roxbury Financial LLC acquired a new stake in shares of ING Groep in the 4th quarter valued at approximately $25,000. Brooklyn Investment Group boosted its position in ING Groep by 184.8% in the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,207 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of ING Groep during the fourth quarter worth $45,000. IFP Advisors Inc increased its holdings in shares of ING Groep by 25.1% during the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock worth $48,000 after buying an additional 621 shares in the last quarter. Finally, Whipplewood Advisors LLC bought a new position in shares of ING Groep in the 4th quarter valued at $55,000. Institutional investors own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised ING Groep from a “neutral” rating to a “buy” rating in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

ING Groep Trading Up 4.7 %

ING opened at $18.24 on Friday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. ING Groep has a fifty-two week low of $15.09 and a fifty-two week high of $20.79. The company’s 50 day moving average price is $18.44 and its two-hundred day moving average price is $17.04. The firm has a market capitalization of $63.79 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 6.42 and a beta of 1.07.

ING Groep (NYSE:ING) last issued its quarterly earnings data 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 return on equity of 11.81% and a net margin of 28.30%. As a group, research analysts predict that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a dividend of $0.6526 per share. This represents a dividend yield of 5.1%. This is an increase from ING Groep’s previous semi-annual dividend of $0.17. The ex-dividend date is Friday, April 25th. ING Groep’s dividend payout ratio (DPR) is 60.75%.

ING Groep Company 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.