C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Acquires 722 Shares of ING Groep (NYSE:ING)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in shares of ING Groep (NYSE:ING) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,604 shares of the financial services provider’s stock after purchasing an additional 722 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in ING Groep were worth $229,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC bought a new position in shares of ING Groep during the third quarter valued at approximately $25,000. Roxbury Financial LLC bought a new position in shares of ING Groep during the fourth quarter valued at approximately $25,000. Brooklyn Investment Group increased its stake in shares of ING Groep by 184.8% during 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 bought a new stake in shares of ING Groep during the fourth quarter valued at approximately $45,000. Finally, Sierra Ocean LLC purchased a new position in ING Groep in the 4th quarter worth approximately $65,000. Institutional investors own 4.49% of the company’s stock.

Analysts Set New Price Targets

Separately, Morgan Stanley lowered shares of ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th.

ING Groep Price Performance

Shares of NYSE ING opened at $17.24 on Friday. ING Groep has a twelve month low of $13.57 and a twelve month high of $18.72. The firm has a market cap of $60.29 billion, a P/E ratio of 8.05, a PEG ratio of 6.50 and a beta of 1.46. The company has a 50 day moving average of $16.19 and a 200 day moving average of $16.72. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89.

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

ING Groep Cuts Dividend

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

ING Groep 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.