Capital Investment Counsel LLC Sells 21,300 Shares of ING Group, N.V. $ING

Capital Investment Counsel LLC trimmed its holdings in ING Group, N.V. (NYSE:ING) by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 270,010 shares of the financial services provider’s stock after selling 21,300 shares during the period. Capital Investment Counsel LLC’s holdings in ING Group were worth $7,042,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Advisors Asset Management Inc. lifted its holdings in ING Group by 0.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 63,613 shares of the financial services provider’s stock valued at $1,659,000 after purchasing an additional 397 shares during the last quarter. AE Wealth Management LLC lifted its stake in shares of ING Group by 2.5% during the 3rd quarter. AE Wealth Management LLC now owns 16,862 shares of the financial services provider’s stock worth $440,000 after buying an additional 410 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of ING Group by 5.3% during the 2nd quarter. Geneos Wealth Management Inc. now owns 9,429 shares of the financial services provider’s stock worth $206,000 after buying an additional 476 shares during the period. Drive Wealth Management LLC grew its stake in ING Group by 4.4% in the 2nd quarter. Drive Wealth Management LLC now owns 12,117 shares of the financial services provider’s stock valued at $265,000 after buying an additional 508 shares during the last quarter. Finally, Prospera Financial Services Inc grew its stake in ING Group by 3.6% in the 3rd quarter. Prospera Financial Services Inc now owns 14,703 shares of the financial services provider’s stock valued at $384,000 after buying an additional 516 shares during the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Group Stock Performance

ING opened at $28.82 on Friday. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.11 and a current ratio of 1.11. ING Group, N.V. has a 52-week low of $16.47 and a 52-week high of $31.17. The firm has a market cap of $83.88 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 0.98 and a beta of 0.80. The business’s fifty day moving average is $28.63 and its 200-day moving average is $26.15.

ING Group (NYSE:ING) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.06. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $6.67 billion. ING Group had a net margin of 27.50% and a return on equity of 12.26%. Sell-side analysts expect that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 17th will be given a dividend of $0.8796 per share. The ex-dividend date is Friday, April 17th. This represents a dividend yield of 589.0%. ING Group’s dividend payout ratio (DPR) is currently 28.87%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded ING Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods cut ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Jefferies Financial Group began coverage on ING Group in a report on Tuesday, January 27th. They issued a “hold” rating on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a report on Monday, December 29th. Finally, Citigroup raised shares of ING Group to a “strong-buy” rating in a research report on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy”.

ING Group Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.