Seven Eight Capital LP Decreases Position in ING Groep (NYSE:ING)

Seven Eight Capital LP lowered its position in ING Groep (NYSE:ING) by 66.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,797 shares of the financial services provider’s stock after selling 139,413 shares during the quarter. Seven Eight Capital LP’s holdings in ING Groep were worth $1,231,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ING. Fisher Asset Management LLC grew its stake in ING Groep by 8.5% in the 4th quarter. Fisher Asset Management LLC now owns 63,677,437 shares of the financial services provider’s stock valued at $956,435,000 after acquiring an additional 4,995,615 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of ING Groep by 7.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock valued at $128,693,000 after purchasing an additional 622,037 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of ING Groep by 1.0% during the 2nd quarter. Natixis Advisors LLC now owns 1,930,085 shares of the financial services provider’s stock worth $33,082,000 after purchasing an additional 18,472 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in shares of ING Groep by 17.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 1,695,710 shares of the financial services provider’s stock worth $27,962,000 after purchasing an additional 257,440 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in ING Groep by 96.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,332,957 shares of the financial services provider’s stock valued at $20,021,000 after buying an additional 655,011 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays raised ING Groep from an “equal weight” rating to an “overweight” rating in a research report on Friday, June 7th.

ING Groep Trading Up 1.2 %

Shares of ING stock opened at $18.63 on Friday. ING Groep has a twelve month low of $12.44 and a twelve month high of $18.66. The company has a market capitalization of $65.15 billion, a price-to-earnings ratio of 8.24 and a beta of 1.52. The firm has a 50-day moving average price of $17.81 and a 200 day moving average price of $17.11. The company has a current ratio of 0.95, a quick ratio of 1.12 and a debt-to-equity ratio of 2.54.

ING Groep (NYSE:ING) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The business had revenue of $6.15 billion during the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same period in the prior year, the firm earned $0.65 EPS. Research analysts forecast that ING Groep will post 2.02 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 19th. Stockholders of record on Thursday, August 8th were issued a dividend of $0.8143 per share. This is a boost from ING Groep’s previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Thursday, August 8th. This represents a dividend yield of 5.9%. ING Groep’s dividend payout ratio (DPR) is 28.32%.

ING Groep Company Profile

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.