MGO One Seven LLC Decreases Holdings in ING Group, N.V. $ING

MGO One Seven LLC decreased its position in shares of ING Group, N.V. (NYSE:ING) by 10.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,373 shares of the financial services provider’s stock after selling 1,289 shares during the period. MGO One Seven LLC’s holdings in ING Group were worth $249,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ING. Legacy Advisors LLC acquired a new position in ING Group during the 1st quarter valued at approximately $28,000. SBI Securities Co. Ltd. increased its stake in ING Group by 135.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 912 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in ING Group during the 2nd quarter valued at approximately $37,000. Maseco LLP acquired a new position in ING Group during the 2nd quarter valued at approximately $48,000. Finally, Olde Wealth Management LLC acquired a new position in ING Group during the 1st quarter valued at approximately $55,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ING. Weiss Ratings lowered shares of ING Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Barclays upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. Morgan Stanley upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, September 2nd. Finally, Cfra Research upgraded shares of ING Group from a “hold” rating to a “moderate buy” rating in a research note on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

ING Group Stock Down 1.2%

NYSE:ING opened at $24.09 on Monday. The firm has a market capitalization of $75.81 billion, a P/E ratio of 11.10, a PEG ratio of 1.73 and a beta of 1.07. ING Group, N.V. has a 1-year low of $15.09 and a 1-year high of $26.27. The company’s fifty day moving average price is $24.83 and its 200-day moving average price is $22.37. The company has a debt-to-equity ratio of 2.83, a current ratio of 1.12 and a quick ratio of 1.12.

ING Group (NYSE:ING) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. As a group, equities research analysts anticipate that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a dividend of $0.4002 per share. This represents a yield of 450.0%. The ex-dividend date was Monday, August 11th. ING Group’s dividend payout ratio (DPR) is currently 31.80%.

ING Group 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.