ING Groep (NYSE:ING) Position Lessened by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. trimmed its position in shares of ING Groep (NYSE:ING) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 469,019 shares of the financial services provider’s stock after selling 4,020 shares during the period. ING Groep comprises approximately 2.4% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 11th biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in ING Groep were worth $7,045,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clear Street Markets LLC grew its position in shares of ING Groep by 570.3% in the third quarter. Clear Street Markets LLC now owns 2,011 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,711 shares during the last quarter. NBC Securities Inc. acquired a new stake in ING Groep during the third quarter worth about $43,000. Global Retirement Partners LLC grew its position in ING Groep by 128.5% during the fourth quarter. Global Retirement Partners LLC now owns 4,994 shares of the financial services provider’s stock worth $69,000 after buying an additional 2,808 shares in the last quarter. Paradigm Asset Management Co. LLC grew its position in ING Groep by 122.6% during the third quarter. Paradigm Asset Management Co. LLC now owns 6,900 shares of the financial services provider’s stock worth $91,000 after buying an additional 3,800 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in ING Groep during the fourth quarter worth about $116,000. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Groep Price Performance

ING traded down $0.25 during midday trading on Wednesday, reaching $15.65. 1,823,790 shares of the company’s stock were exchanged, compared to its average volume of 3,105,408. The firm has a market capitalization of $58.32 billion, a price-to-earnings ratio of 7.56 and a beta of 1.58. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.24. ING Groep has a one year low of $11.78 and a one year high of $17.18. The business has a 50-day simple moving average of $15.30 and a two-hundred day simple moving average of $14.35.

ING Groep (NYSE:ING) last announced its quarterly earnings results on Thursday, February 1st. The financial services provider reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $6.15 billion. ING Groep had a return on equity of 13.36% and a net margin of 32.29%. As a group, research analysts predict that ING Groep will post 1.91 EPS for the current year.

ING Groep Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, April 25th will be paid a dividend of $0.697 per share. This is a boost from ING Groep’s previous Semi-Annual dividend of $0.43. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a yield of 6.8%. ING Groep’s dividend payout ratio (DPR) is currently 31.22%.

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.