Allspring Global Investments Holdings LLC Purchases 2,765 Shares of ING Groep (NYSE:ING)

Allspring Global Investments Holdings LLC raised its position in ING Groep (NYSE:ING) by 10.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 28,143 shares of the financial services provider’s stock after acquiring an additional 2,765 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ING Groep were worth $436,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Confluence Investment Management LLC lifted its stake in ING Groep by 1.7% in the 4th quarter. Confluence Investment Management LLC now owns 48,238 shares of the financial services provider’s stock valued at $756,000 after acquiring an additional 790 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in ING Groep by 4.6% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 20,029 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 875 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in ING Groep by 2.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 51,547 shares of the financial services provider’s stock valued at $936,000 after acquiring an additional 1,105 shares in the last quarter. Brooklyn Investment Group raised its stake in shares of ING Groep by 184.8% during the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,207 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its stake in shares of ING Groep by 6.7% during the 4th quarter. Bleakley Financial Group LLC now owns 20,366 shares of the financial services provider’s stock worth $319,000 after purchasing an additional 1,285 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

Analysts Set New Price Targets

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

ING Groep Trading Up 0.3 %

Shares of ING Groep stock opened at $17.17 on Tuesday. ING Groep has a 12-month low of $13.57 and a 12-month high of $18.72. The stock has a market cap of $60.05 billion, a P/E ratio of 8.02, a P/E/G ratio of 6.42 and a beta of 1.46. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. The business’s 50 day moving average is $16.26 and its 200-day moving average is $16.72.

ING Groep (NYSE:ING) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. Equities research analysts predict that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th were given a dividend of $0.1667 per share. The ex-dividend date was Monday, January 13th. This represents a yield of 6.4%. ING Groep’s dividend payout ratio (DPR) is 29.91%.

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.