Scotia Capital Inc. Has $330,000 Stock Position in ING Groep (NYSE:ING)

Scotia Capital Inc. lessened its stake in shares of ING Groep (NYSE:ING - Free Report) by 90.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,047 shares of the financial services provider's stock after selling 190,401 shares during the quarter. Scotia Capital Inc.'s holdings in ING Groep were worth $330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank raised its holdings in shares of ING Groep by 1.7% in the 4th quarter. Huntington National Bank now owns 35,030 shares of the financial services provider's stock worth $549,000 after purchasing an additional 597 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of ING Groep by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock worth $48,000 after acquiring an additional 621 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of ING Groep by 20.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider's stock worth $62,000 after purchasing an additional 665 shares during the period. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of ING Groep by 1.8% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 41,553 shares of the financial services provider's stock valued at $651,000 after purchasing an additional 716 shares during the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in ING Groep by 5.2% in the 4th 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 in the last quarter. Institutional investors own 4.49% of the company's stock.

ING Groep Stock Up 0.5 %

Shares of ING Groep stock traded up $0.09 on Friday, hitting $18.65. 2,215,257 shares of the company traded hands, compared to its average volume of 2,322,568. ING Groep has a 12-month low of $15.09 and a 12-month high of $20.79. 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 company has a market cap of $65.22 billion, a PE ratio of 8.71, a PEG ratio of 6.42 and a beta of 1.07. The company has a 50-day moving average price of $18.61 and a 200 day moving average price of $17.06.

ING Groep (NYSE:ING - Get Free Report) last issued its earnings results on Thursday, February 6th. The financial services provider reported $0.39 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. Sell-side analysts predict that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a $0.6526 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a yield of 5.1%. This is an increase from ING Groep's previous semi-annual dividend of $0.17. ING Groep's dividend payout ratio is currently 60.75%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of ING Groep from a "neutral" rating to a "buy" rating in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ING Groep presently has a consensus rating of "Moderate Buy".

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.