Ritholtz Wealth Management cut its stake in shares of ING Groep (NYSE:ING - Free Report) by 33.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,400 shares of the financial services provider's stock after selling 66,663 shares during the quarter. Ritholtz Wealth Management's holdings in ING Groep were worth $2,075,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new position in shares of ING Groep in the third quarter worth about $25,000. Mather Group LLC. raised its stake in shares of ING Groep by 57.3% during the 3rd quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider's stock valued at $39,000 after buying an additional 782 shares during the last quarter. Versant Capital Management Inc acquired a new position in shares of ING Groep in the 4th quarter valued at about $45,000. Hexagon Capital Partners LLC boosted its stake in shares of ING Groep by 22.3% in the third quarter. Hexagon Capital Partners LLC now owns 3,879 shares of the financial services provider's stock worth $70,000 after buying an additional 706 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in ING Groep during the third quarter worth about $91,000. 4.49% of the stock is owned by institutional investors and hedge funds.
Shares of ING traded down $0.15 during mid-day trading on Friday, hitting $16.30. 2,804,920 shares of the company were exchanged, compared to its average volume of 1,916,276. The stock has a market cap of $57.03 billion, a price-to-earnings ratio of 7.31, a price-to-earnings-growth ratio of 5.80 and a beta of 1.47. ING Groep has a 1-year low of $12.77 and a 1-year high of $18.72. The company has a 50 day moving average of $15.64 and a 200-day moving average of $16.94. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13.
The company also recently announced a semi-annual dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th will be given a $0.1667 dividend. The ex-dividend date of this dividend is Monday, January 13th. This represents a dividend yield of 6.4%. ING Groep's dividend payout ratio (DPR) is presently 29.15%.
Several equities analysts have recently weighed in on the stock. Barclays lowered shares of ING Groep from an "overweight" rating to an "equal weight" rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of ING Groep from a "buy" rating to a "hold" rating in a research report on Wednesday, October 9th. Morgan Stanley cut ING Groep from an "overweight" rating to an "equal weight" rating in a research report on Tuesday, November 26th. Finally, Citigroup raised ING Groep to a "strong-buy" rating in a report on Thursday, October 17th.
Get Our Latest Stock Analysis on ING
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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