Raymond James Financial Services Advisors Inc. Sells 791 Shares of ING Groep (NYSE:ING)

Raymond James Financial Services Advisors Inc. decreased its holdings in ING Groep (NYSE:ING) by 5.3% during the 4th quarter, HoldingsChannel reports. The firm owned 14,011 shares of the financial services provider’s stock after selling 791 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in ING Groep were worth $210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Raymond James & Associates increased its stake in shares of ING Groep by 31.1% in the 4th quarter. Raymond James & Associates now owns 488,936 shares of the financial services provider’s stock valued at $7,344,000 after purchasing an additional 116,114 shares during the last quarter. Wealthstar Advisors LLC bought a new position in shares of ING Groep in the 4th quarter valued at $305,000. Contravisory Investment Management Inc. increased its stake in shares of ING Groep by 5.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 12,992 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 725 shares during the last quarter. BKM Wealth Management LLC bought a new position in shares of ING Groep in the 4th quarter valued at $349,000. Finally, Legacy Wealth Asset Management LLC increased its stake in shares of ING Groep by 26.8% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 49,391 shares of the financial services provider’s stock valued at $742,000 after purchasing an additional 10,454 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Groep Trading Down 6.3 %

Shares of ING stock opened at $15.66 on Thursday. The firm has a market capitalization of $58.36 billion, a P/E ratio of 7.09 and a beta of 1.58. ING Groep has a twelve month low of $11.78 and a twelve month high of $17.18. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.24. The stock’s fifty day simple moving average is $15.34 and its 200 day simple moving average is $14.36.

ING Groep (NYSE:ING) last issued its quarterly earnings data on Thursday, February 1st. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $6.15 billion. ING Groep had a return on equity of 13.36% and a net margin of 32.29%. As a group, sell-side analysts predict that ING Groep will post 1.91 EPS for the current fiscal year.

ING Groep Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, April 25th will be given a dividend of $0.697 per share. The ex-dividend date is Wednesday, April 24th. This represents a yield of 6.8%. This is a positive change from ING Groep’s previous Semi-Annual dividend of $0.43. ING Groep’s payout ratio is currently 31.22%.

About ING Groep

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.