Y Intercept Hong Kong Ltd Purchases 25,624 Shares of ING Groep (NYSE:ING)

Y Intercept Hong Kong Ltd increased its position in shares of ING Groep (NYSE:ING) by 97.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,922 shares of the financial services provider’s stock after buying an additional 25,624 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in ING Groep were worth $814,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ING. Hardy Reed LLC acquired a new position in shares of ING Groep during the fourth quarter worth approximately $164,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its position in ING Groep by 5.2% in the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider’s stock valued at $229,000 after purchasing an additional 722 shares during the period. BKM Wealth Management LLC grew its position in ING Groep by 5.9% in the 4th quarter. BKM Wealth Management LLC now owns 35,034 shares of the financial services provider’s stock valued at $549,000 after purchasing an additional 1,937 shares during the period. NTV Asset Management LLC acquired a new stake in ING Groep in the 4th quarter valued at $158,000. Finally, Sierra Ocean LLC acquired a new stake in ING Groep in the 4th quarter valued at $65,000. Institutional investors own 4.49% of the company’s stock.

ING Groep Stock Performance

NYSE ING opened at $17.70 on Friday. The company has a fifty day simple moving average of $16.40 and a 200 day simple moving average of $16.74. ING Groep has a 12-month low of $13.64 and a 12-month high of $18.72. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The company has a market cap of $61.90 billion, a P/E ratio of 8.27, a PEG ratio of 6.42 and a beta of 1.46.

ING Groep (NYSE:ING) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) 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%. Sell-side analysts predict that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th were issued a dividend of $0.1667 per share. This represents a yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep’s dividend payout ratio is 29.91%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th.

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.