Apollon Wealth Management LLC Sells 562 Shares of ING Group, N.V. $ING

Apollon Wealth Management LLC decreased its holdings in ING Group, N.V. (NYSE:ING) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,112 shares of the financial services provider’s stock after selling 562 shares during the period. Apollon Wealth Management LLC’s holdings in ING Group were worth $899,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of ING Group by 14.3% in the 2nd quarter. Bartlett & CO. Wealth Management LLC now owns 4,000 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 500 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of ING Group by 4.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 12,705 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 530 shares during the last quarter. Drive Wealth Management LLC lifted its holdings in shares of ING Group by 6.5% in the 1st quarter. Drive Wealth Management LLC now owns 11,609 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 707 shares during the last quarter. MAI Capital Management lifted its holdings in shares of ING Group by 23.1% in the 1st quarter. MAI Capital Management now owns 4,190 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 785 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of ING Group by 1.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 62,657 shares of the financial services provider’s stock valued at $1,227,000 after acquiring an additional 786 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Cfra Research raised shares of ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. Weiss Ratings lowered shares of ING Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Morgan Stanley raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Barclays raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, ING Group presently has a consensus rating of “Buy”.

ING Group Stock Performance

Shares of ING stock opened at $24.58 on Wednesday. The firm has a market cap of $77.35 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.75 and a beta of 1.07. The company’s 50 day moving average is $24.82 and its 200 day moving average is $22.25. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83. ING Group, N.V. has a 52-week low of $15.09 and a 52-week high of $26.27.

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

ING Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were issued a dividend of $0.4002 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a dividend yield of 450.0%. ING Group’s payout ratio is 31.80%.

About ING Group

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.