Dorsey Wright & Associates Trims Stake in ING Groep (NYSE:ING)

Dorsey Wright & Associates lowered its holdings in ING Groep (NYSE:ING) by 1.4% during the second quarter, Holdings Channel.com reports. The firm owned 155,290 shares of the financial services provider’s stock after selling 2,150 shares during the period. Dorsey Wright & Associates’ holdings in ING Groep were worth $2,661,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. raised its holdings in shares of ING Groep by 67.8% in the 1st quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock valued at $27,000 after buying an additional 662 shares during the period. Richardson Financial Services Inc. acquired a new position in ING Groep during the 4th quarter worth $28,000. Summit Securities Group LLC acquired a new position in ING Groep during the 2nd quarter worth $31,000. Rothschild Investment LLC acquired a new position in ING Groep during the 2nd quarter worth $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in ING Groep during the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Analysts Set New Price Targets

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

ING Groep Trading Down 1.3 %

ING opened at $18.34 on Friday. ING Groep has a 12 month low of $12.44 and a 12 month high of $18.72. The stock has a market capitalization of $64.16 billion, a price-to-earnings ratio of 8.12 and a beta of 1.52. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12. The business has a fifty day moving average price of $17.82 and a 200 day moving average price of $17.27.

ING Groep (NYSE:ING) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.58 EPS for the quarter. The firm had revenue of $6.15 billion during the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. During the same period in the previous year, the firm earned $0.65 earnings per share. Sell-side analysts expect that ING Groep will post 2.04 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 given a dividend of $0.8143 per share. This is a boost from ING Groep’s previous semi-annual dividend of $0.70. This represents a dividend yield of 5.9%. The ex-dividend date was Thursday, August 8th. ING Groep’s dividend payout ratio is currently 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.