Connor Clark & Lunn Investment Management Ltd. Has $2.70 Million Holdings in ING Groep (NYSE:ING)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of ING Groep (NYSE:ING) by 56.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 172,067 shares of the financial services provider’s stock after purchasing an additional 61,734 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in ING Groep were worth $2,696,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ING. EverSource Wealth Advisors LLC boosted its stake in shares of ING Groep by 280.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 13,979 shares of the financial services provider’s stock valued at $219,000 after buying an additional 10,302 shares during the period. HighTower Advisors LLC raised its holdings in ING Groep by 1.6% in the 4th quarter. HighTower Advisors LLC now owns 963,306 shares of the financial services provider’s stock valued at $15,095,000 after acquiring an additional 15,118 shares in the last quarter. Natural Investments LLC bought a new stake in shares of ING Groep during the 4th quarter valued at $171,000. Pzena Investment Management LLC grew its holdings in shares of ING Groep by 9.2% during the 4th quarter. Pzena Investment Management LLC now owns 54,540 shares of the financial services provider’s stock worth $855,000 after purchasing an additional 4,608 shares in the last quarter. Finally, Sage Mountain Advisors LLC bought a new position in shares of ING Groep in the fourth quarter worth $157,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analysts Set New Price Targets

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

ING Groep Stock Up 0.0 %

Shares of ING opened at $20.27 on Tuesday. The firm has a 50 day simple moving average of $17.35 and a two-hundred day simple moving average of $16.91. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. ING Groep has a one year low of $15.09 and a one year high of $20.79. The company has a market cap of $70.89 billion, a P/E ratio of 9.47, a P/E/G ratio of 6.42 and a beta of 1.44.

ING Groep (NYSE:ING) last posted its quarterly 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 return on equity of 11.81% and a net margin of 28.30%. Research analysts forecast 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 paid a $0.1667 dividend. The ex-dividend date of this dividend 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.