ING Group, N.V. $ING Shares Sold by Prime Capital Investment Advisors LLC

Key Points

• Prime Capital Investment Advisors LLC reduced its holdings in ING Group by 13.5% during the second quarter, now owning 69,173 shares valued at $1.51 million.
• ING Group reported earnings per share of $0.64 for the last quarter, exceeding analyst expectations of $0.59, along with a revenue of $6.55 billion.
• The firm declared a semi-annual dividend of $0.4002 per share, resulting in a dividend yield of 450.0% and a payout ratio of 31.80%.

Prime Capital Investment Advisors LLC lowered its holdings in ING Group, N.V. (NYSE:ING - Free Report) by 13.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,173 shares of the financial services provider's stock after selling 10,824 shares during the period. Prime Capital Investment Advisors LLC's holdings in ING Group were worth $1,513,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Bartlett & CO. Wealth Management LLC lifted its position in shares of ING Group by 14.3% during the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 4,000 shares of the financial services provider's stock worth $87,000 after buying an additional 500 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in ING Group by 4.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 12,705 shares of the financial services provider's stock valued at $249,000 after purchasing an additional 530 shares during the last quarter. Wedmont Private Capital raised its position in ING Group by 6.5% in the 1st quarter. Wedmont Private Capital now owns 11,415 shares of the financial services provider's stock valued at $208,000 after purchasing an additional 693 shares during the last quarter. Drive Wealth Management LLC raised its position in ING Group by 6.5% in the 1st quarter. Drive Wealth Management LLC now owns 11,609 shares of the financial services provider's stock valued at $227,000 after purchasing an additional 707 shares during the last quarter. Finally, MAI Capital Management raised its position in ING Group by 23.1% in the 1st quarter. MAI Capital Management now owns 4,190 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 785 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company's stock.

ING Group Stock Performance

NYSE:ING opened at $24.42 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83. ING Group, N.V. has a fifty-two week low of $15.09 and a fifty-two week high of $26.27. The stock has a market cap of $76.86 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.76 and a beta of 1.07. The firm's fifty day simple moving average is $24.72 and its 200-day simple moving average is $22.12.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.05. ING Group had a net margin of 27.28% and a return on equity of 11.62%. The business had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.40 billion. Analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a dividend of $0.4002 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a dividend yield of 450.0%. ING Group's dividend payout ratio is 31.80%.

Analyst Upgrades and Downgrades

ING has been the subject of several research reports. Cfra Research upgraded shares of ING Group from a "hold" rating to a "moderate buy" rating in a research report on Thursday, September 25th. Morgan Stanley upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, September 2nd. Weiss Ratings cut shares of ING Group from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday. Finally, Barclays raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, ING Group has an average rating of "Buy".

ING Group 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.

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