Bruce G. Allen Investments LLC Has $122,000 Stake in ING Groep (NYSE:ING)

Bruce G. Allen Investments LLC trimmed its stake in shares of ING Groep (NYSE:ING) by 27.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,811 shares of the financial services provider’s stock after selling 2,886 shares during the period. Bruce G. Allen Investments LLC’s holdings in ING Groep were worth $122,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ING. Versant Capital Management Inc acquired a new stake in ING Groep in the fourth quarter worth $45,000. Confluence Investment Management LLC grew its stake in ING Groep by 1.7% in the fourth 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 during the period. Logan Capital Management Inc. increased its holdings in shares of ING Groep by 4.2% in the third quarter. Logan Capital Management Inc. now owns 192,859 shares of the financial services provider’s stock worth $3,502,000 after acquiring an additional 7,772 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of ING Groep during the third quarter worth about $257,000. Finally, Sanctuary Advisors LLC lifted its holdings in shares of ING Groep by 12.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 103,478 shares of the financial services provider’s stock valued at $1,879,000 after purchasing an additional 11,074 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors.

ING Groep Stock Down 1.4 %

Shares of NYSE:ING traded down $0.22 during midday trading on Friday, reaching $15.56. The company had a trading volume of 2,232,412 shares, compared to its average volume of 2,566,506. The business’s 50 day moving average price is $15.70 and its 200 day moving average price is $16.99. ING Groep has a 1-year low of $12.77 and a 1-year high of $18.72. 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 stock has a market cap of $54.43 billion, a PE ratio of 6.98, a P/E/G ratio of 5.97 and a beta of 1.47.

ING Groep Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th will be issued a $0.1667 dividend. This represents a dividend yield of 6.4%. The ex-dividend date is Monday, January 13th. ING Groep’s payout ratio is presently 12.56%.

Analyst Ratings Changes

ING has been the topic of several research analyst reports. Barclays downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Citigroup raised shares of ING Groep to a “strong-buy” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut ING Groep from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley lowered ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th.

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.