Evergreen Capital Management LLC Reduces Stock Position in ING Groep (NYSE:ING)

Evergreen Capital Management LLC reduced its stake in ING Groep (NYSE:ING) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,516 shares of the financial services provider’s stock after selling 1,442 shares during the period. Evergreen Capital Management LLC’s holdings in ING Groep were worth $557,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Huntington National Bank grew its position in ING Groep by 1.7% during the fourth quarter. Huntington National Bank now owns 35,030 shares of the financial services provider’s stock worth $549,000 after buying an additional 597 shares in the last quarter. IFP Advisors Inc boosted its position in shares of ING Groep by 25.1% during the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 621 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of ING Groep by 20.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider’s stock valued at $62,000 after acquiring an additional 665 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of ING Groep by 1.8% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 41,553 shares of the financial services provider’s stock worth $651,000 after purchasing an additional 716 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its position in shares of ING Groep by 5.2% in the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 722 shares during the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Groep Trading Up 0.5 %

NYSE ING opened at $18.65 on Friday. The stock’s 50-day simple moving average is $18.65 and its two-hundred day simple moving average is $17.06. ING Groep has a twelve month low of $15.09 and a twelve month high of $20.79. 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 company has a market capitalization of $65.22 billion, a price-to-earnings ratio of 8.71, a PEG ratio of 6.42 and a beta of 1.07.

ING Groep (NYSE:ING) last released its 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 return on equity of 11.81% and a net margin of 28.30%. Research analysts forecast that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a dividend of $0.6526 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a dividend yield of 5.1%. This is a positive change from ING Groep’s previous semi-annual dividend of $0.17. ING Groep’s dividend payout ratio (DPR) is currently 60.75%.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of ING Groep from a “neutral” rating to a “buy” rating in a research note on Thursday, March 27th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ING Groep currently has an average rating of “Moderate Buy”.

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.