Bridges Investment Management Inc. Has $8.89 Million Stock Position in ING Groep (NYSE:ING)

Bridges Investment Management Inc. trimmed its position in shares of ING Groep (NYSE:ING - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 567,485 shares of the financial services provider's stock after selling 15,000 shares during the quarter. Bridges Investment Management Inc.'s holdings in ING Groep were worth $8,892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. IFP Advisors Inc grew its holdings in shares of ING Groep by 25.1% during the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock worth $48,000 after purchasing an additional 621 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in ING Groep by 5.2% during the fourth quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider's stock worth $229,000 after purchasing an additional 722 shares during the period. Confluence Investment Management LLC lifted its stake in ING Groep by 1.7% during the fourth quarter. Confluence Investment Management LLC now owns 48,238 shares of the financial services provider's stock worth $756,000 after purchasing an additional 790 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in ING Groep by 4.6% during the third quarter. Integrated Wealth Concepts LLC now owns 20,029 shares of the financial services provider's stock valued at $364,000 after purchasing an additional 875 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in shares of ING Groep by 2.2% in the 3rd quarter. Verdence Capital Advisors LLC now owns 51,547 shares of the financial services provider's stock valued at $936,000 after purchasing an additional 1,105 shares during the period. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Groep Trading Up 4.4 %

ING stock traded up $0.79 during midday trading on Monday, reaching $18.52. The stock had a trading volume of 3,325,766 shares, compared to its average volume of 2,668,777. The firm has a market cap of $64.77 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 6.42 and a beta of 1.46. ING Groep has a twelve month low of $14.04 and a twelve month high of $18.74. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. The business has a fifty day simple moving average of $16.45 and a two-hundred day simple moving average of $16.75.

ING Groep (NYSE:ING - Get Free Report) last posted its quarterly earnings results 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 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 declared a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were issued a $0.1667 dividend. This represents a dividend yield of 6.4%. The ex-dividend date of this dividend was Monday, January 13th. ING Groep's dividend payout ratio (DPR) is presently 29.91%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley cut ING Groep from an "overweight" rating to an "equal weight" rating in a report on Tuesday, November 26th.

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.