Ritholtz Wealth Management Decreases Holdings in ING Groep (NYSE:ING)

Ritholtz Wealth Management trimmed its holdings in ING Groep (NYSE:ING) by 33.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,400 shares of the financial services provider’s stock after selling 66,663 shares during the period. Ritholtz Wealth Management’s holdings in ING Groep were worth $2,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Natixis Advisors LLC increased its position 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 acquiring an additional 1,376,713 shares during the period. Public Employees Retirement System of Ohio acquired a new position in ING Groep in the third quarter valued at $9,924,000. Mediolanum International Funds Ltd acquired a new position in ING Groep in the third quarter valued at $7,972,000. Fisher Asset Management LLC boosted its stake in ING Groep by 0.6% in the third quarter. Fisher Asset Management LLC now owns 68,451,083 shares of the financial services provider’s stock valued at $1,243,072,000 after acquiring an additional 429,562 shares in the last quarter. Finally, Benson Investment Management Company Inc. acquired a new position in ING Groep in the third quarter valued at $5,204,000. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Groep Stock Performance

Shares of ING Groep stock opened at $16.30 on Friday. The firm has a market cap of $57.03 billion, a PE ratio of 7.31, a price-to-earnings-growth ratio of 5.80 and a beta of 1.47. The firm’s 50-day simple moving average is $15.64 and its 200-day simple moving average is $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. ING Groep has a 1 year low of $12.77 and a 1 year high of $18.72.

ING Groep Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th will be paid 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%.

Wall Street Analyst Weigh In

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

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.