Oppenheimer Asset Management Inc. Raises Holdings in ING Groep (NYSE:ING)

Oppenheimer Asset Management Inc. increased its position in ING Groep (NYSE:ING) by 18.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 92,045 shares of the financial services provider’s stock after acquiring an additional 14,476 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ING Groep were worth $1,442,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ING. Whipplewood Advisors LLC purchased a new stake in ING Groep during the fourth quarter valued at about $55,000. Todd Asset Management LLC raised its position in shares of ING Groep by 1.6% in the fourth quarter. Todd Asset Management LLC now owns 2,771,941 shares of the financial services provider’s stock valued at $43,436,000 after purchasing an additional 42,851 shares during the period. IFP Advisors Inc lifted its stake 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 valued at $48,000 after buying an additional 621 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in ING Groep by 97.4% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 51,922 shares of the financial services provider’s stock worth $814,000 after buying an additional 25,624 shares during the period. Finally, Hardy Reed LLC purchased a new position in ING Groep in the 4th quarter valued at approximately $164,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

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

ING Groep Stock Up 3.6 %

ING stock opened at $18.37 on Tuesday. The stock has a 50-day simple moving average of $16.51 and a two-hundred day simple moving average of $16.76. ING Groep has a twelve month low of $14.04 and a twelve month high of $18.74. The firm has a market capitalization of $64.26 billion, a PE ratio of 8.58, a PEG ratio of 6.42 and a beta of 1.46. 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 issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. On average, equities analysts predict that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Cuts Dividend

The company 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. The ex-dividend date was Monday, January 13th. This represents a dividend yield of 6.4%. ING Groep’s payout ratio is currently 29.91%.

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.