Traveka Wealth LLC Decreases Stock Position in ING Groep (NYSE:ING)

Traveka Wealth LLC decreased its stake in shares of ING Groep (NYSE:ING) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,793 shares of the financial services provider’s stock after selling 740 shares during the quarter. Traveka Wealth LLC’s holdings in ING Groep were worth $185,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ING. State Street Corp increased its stake in shares of ING Groep by 1.3% during the third quarter. State Street Corp now owns 358,479 shares of the financial services provider’s stock worth $6,510,000 after buying an additional 4,542 shares during the period. Creative Planning increased its position in shares of ING Groep by 18.4% in the 2nd quarter. Creative Planning now owns 209,405 shares of the financial services provider’s stock valued at $3,589,000 after purchasing an additional 32,534 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of ING Groep by 30.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 266,994 shares of the financial services provider’s stock valued at $4,849,000 after purchasing an additional 62,801 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of ING Groep during the 3rd quarter worth $2,428,000. Finally, Natixis Advisors LLC grew its stake in shares of ING Groep by 71.3% during the third quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock worth $60,051,000 after purchasing an additional 1,376,713 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ING. Deutsche Bank Aktiengesellschaft cut ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Barclays lowered ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 22nd. Citigroup raised ING Groep to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Morgan Stanley cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th.

ING Groep Trading Up 2.2 %

NYSE ING opened at $15.89 on Tuesday. The stock has a market capitalization of $55.59 billion, a P/E ratio of 7.13, a P/E/G ratio of 5.97 and a beta of 1.47. The firm has a 50-day moving average price of $15.65 and a 200 day moving average price of $16.97. ING Groep has a 52-week low of $12.77 and a 52-week 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.

ING Groep Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th will be given a dividend of $0.1667 per share. The ex-dividend date of this dividend is Monday, January 13th. This represents a yield of 6.4%. ING Groep’s payout ratio is currently 12.56%.

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.