Profund Advisors LLC Decreases Stake in ING Groep (NYSE:ING)

Posted by on Apr 23rd, 2023

Profund Advisors LLC lessened its stake in shares of ING Groep (NYSE:ING – Get Rating) by 8.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,913 shares of the financial services provider’s stock after selling 3,692 shares during the quarter. Profund Advisors LLC’s holdings in ING Groep were worth $474,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Goldman Sachs Group Inc. lifted its position in shares of ING Groep by 27.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 7,851,043 shares of the financial services provider’s stock worth $77,882,000 after buying an additional 1,673,262 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of ING Groep during the 4th quarter worth approximately $92,588,000. Capital International Investors lifted its position in shares of ING Groep by 3.6% during the 1st quarter. Capital International Investors now owns 3,409,290 shares of the financial services provider’s stock worth $36,752,000 after buying an additional 118,464 shares during the last quarter. Northern Trust Corp lifted its position in shares of ING Groep by 4.7% during the 2nd quarter. Northern Trust Corp now owns 2,961,277 shares of the financial services provider’s stock worth $29,375,000 after buying an additional 133,490 shares during the last quarter. Finally, Todd Asset Management LLC lifted its position in shares of ING Groep by 14.0% during the 3rd quarter. Todd Asset Management LLC now owns 2,355,045 shares of the financial services provider’s stock worth $20,018,000 after buying an additional 288,786 shares during the last quarter. Hedge funds and other institutional investors own 3.99% of the company’s stock.

ING Groep Stock Performance

Shares of ING opened at $12.90 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $48.07 billion, a P/E ratio of 12.65, a P/E/G ratio of 0.28 and a beta of 1.56. The company’s fifty day moving average is $12.89 and its two-hundred day moving average is $12.16. ING Groep has a 1 year low of $8.14 and a 1 year high of $14.72.

ING Groep (NYSE:ING – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. The company had revenue of $4.97 billion for the quarter, compared to analysts’ expectations of $4.68 billion. ING Groep had a net margin of 19.60% and a return on equity of 6.37%. On average, sell-side analysts predict that ING Groep will post 1.72 earnings per share for the current year.

ING Groep Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 12th. Shareholders of record on Thursday, April 27th will be paid a $0.4101 dividend. This is a boost from ING Groep’s previous semi-annual dividend of $0.07. This represents a yield of 4.6%. The ex-dividend date of this dividend is Wednesday, April 26th. ING Groep’s payout ratio is currently 14.71%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ING. StockNews.com began coverage on shares of ING Groep in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Societe Generale cut shares of ING Groep from a “buy” rating to a “hold” rating in a report on Friday, February 3rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, ING Groep has a consensus rating of “Moderate Buy” and a consensus price target of $14.03.

ING Groep Profile

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ING Groep NV engages in the provision of banking, investments, life and non-life insurance, and retirement and asset management services. It operates through the following segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line. The Retail Netherlands segment offers current and savings accounts, business lending, mortgages, and consumer lending.

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Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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