Atomi Financial Group Inc. Decreases Holdings in ING Groep (NYSE:ING)

Atomi Financial Group Inc. reduced its position in ING Groep (NYSE:ING) by 53.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,038 shares of the financial services provider’s stock after selling 32,430 shares during the period. Atomi Financial Group Inc.’s holdings in ING Groep were worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Fortitude Family Office LLC bought a new position in ING Groep in the third quarter valued at about $25,000. Brooklyn Investment Group increased its position in shares of ING Groep by 184.8% during the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,207 shares during the last quarter. Mather Group LLC. lifted its stake in shares of ING Groep by 57.3% in the 3rd quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 782 shares during the period. Versant Capital Management Inc purchased a new position in shares of ING Groep in the fourth quarter worth approximately $45,000. Finally, Hexagon Capital Partners LLC grew its position in ING Groep by 22.3% during the third quarter. Hexagon Capital Partners LLC now owns 3,879 shares of the financial services provider’s stock valued at $70,000 after buying an additional 706 shares during the period. Institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

ING has been the topic of several recent research reports. Barclays downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft downgraded ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Citigroup upgraded ING Groep to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley cut ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th.

ING Groep Stock Performance

Shares of NYSE ING opened at $16.77 on Friday. The stock has a market cap of $58.65 billion, a PE ratio of 7.52, a price-to-earnings-growth ratio of 6.10 and a beta of 1.47. ING Groep has a 1 year low of $12.77 and a 1 year high of $18.72. The firm has a fifty day moving average price of $15.71 and a 200-day moving average price of $16.91. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.65 earnings per share (EPS) for the quarter. ING Groep had a return on equity of 12.49% and a net margin of 30.06%. The business had revenue of $6.49 billion during the quarter. During the same quarter in the previous year, the company posted $0.61 EPS. Equities analysts anticipate that ING Groep will post 2.09 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were issued a $0.1667 dividend. The ex-dividend date was Monday, January 13th. This represents a yield of 6.4%. ING Groep’s dividend payout ratio is presently 29.15%.

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.