Commonwealth Equity Services LLC Sells 3,664 Shares of ING Groep (NYSE:ING)

Commonwealth Equity Services LLC trimmed its position in ING Groep (NYSE:ING) by 18.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,571 shares of the financial services provider’s stock after selling 3,664 shares during the quarter. Commonwealth Equity Services LLC’s holdings in ING Groep were worth $260,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

ING Groep Price Performance

ING Groep stock opened at $16.60 on Wednesday. The firm has a market cap of $58.05 billion, a PE ratio of 7.75, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. The stock’s fifty day moving average price is $18.33 and its two-hundred day moving average price is $17.05. ING Groep has a one year low of $15.09 and a one year high of $20.79. 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 (NYSE:ING) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates 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, research analysts expect that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Increases Dividend

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

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.