Y Intercept Hong Kong Ltd Acquires 25,624 Shares of ING Groep (NYSE:ING)

Y Intercept Hong Kong Ltd grew its holdings in ING Groep (NYSE:ING) by 97.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,922 shares of the financial services provider’s stock after acquiring an additional 25,624 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in ING Groep were worth $814,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Fortitude Family Office LLC acquired a new position in ING Groep in the third quarter valued at about $25,000. Roxbury Financial LLC acquired a new position in ING Groep in the fourth quarter valued at about $25,000. Brooklyn Investment Group raised its stake in ING Groep by 184.8% in the fourth 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 in the last quarter. Versant Capital Management Inc acquired a new position in ING Groep in the fourth quarter valued at about $45,000. Finally, Sierra Ocean LLC acquired a new position in ING Groep in the fourth quarter valued at about $65,000. Institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 26th.

ING Groep Stock Performance

ING Groep stock opened at $17.70 on Friday. The business has a 50 day moving average of $16.40 and a 200-day moving average of $16.74. ING Groep has a 1 year low of $13.64 and a 1 year high of $18.72. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $61.90 billion, a P/E ratio of 8.27, a P/E/G ratio of 6.42 and a beta of 1.46.

ING Groep (NYSE:ING) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. On average, equities research analysts predict that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were issued a $0.1667 dividend. This represents a yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep’s payout ratio is presently 29.91%.

About ING Groep

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.