ING Groep (NYSE:ING) Shares Sold by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. lessened its holdings in shares of ING Groep (NYSE:ING) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 469,019 shares of the financial services provider’s stock after selling 4,020 shares during the quarter. ING Groep makes up about 2.4% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 11th biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in ING Groep were worth $7,045,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Verdence Capital Advisors LLC purchased a new position in shares of ING Groep during the 4th quarter worth $733,000. Raymond James & Associates raised its holdings in shares of ING Groep by 31.1% during the 4th quarter. Raymond James & Associates now owns 488,936 shares of the financial services provider’s stock worth $7,344,000 after acquiring an additional 116,114 shares during the period. Acadian Asset Management LLC purchased a new position in shares of ING Groep during the 3rd quarter worth $800,000. HTLF Bank purchased a new stake in ING Groep in the 4th quarter valued at about $4,629,000. Finally, Tudor Investment Corp Et Al raised its holdings in ING Groep by 2,784.1% in the 3rd quarter. Tudor Investment Corp Et Al now owns 329,939 shares of the financial services provider’s stock valued at $4,349,000 after buying an additional 318,499 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Trading Down 1.6 %

ING traded down $0.25 on Wednesday, hitting $15.65. The company had a trading volume of 1,823,790 shares, compared to its average volume of 3,105,408. The firm has a market cap of $58.32 billion, a P/E ratio of 7.56 and a beta of 1.58. ING Groep has a 1 year low of $11.78 and a 1 year high of $17.18. The company’s fifty day moving average price is $15.30 and its 200 day moving average price is $14.35. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.24.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Thursday, February 1st. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $6.15 billion. ING Groep had a return on equity of 13.36% and a net margin of 32.29%. As a group, equities analysts expect that ING Groep will post 1.91 earnings per share for the current year.

ING Groep Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, April 25th will be paid a dividend of $0.697 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This is a positive change from ING Groep’s previous Semi-Annual dividend of $0.43. This represents a yield of 6.8%. ING Groep’s dividend payout ratio is 31.22%.

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.