ING Groep (NYSE:ING) Shares Sold by Lincluden Management Ltd.

Lincluden Management Ltd. decreased its holdings in ING Groep (NYSE:ING) by 0.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 311,647 shares of the financial services provider’s stock after selling 2,470 shares during the quarter. Lincluden Management Ltd.’s holdings in ING Groep were worth $4,884,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. State Street Corp boosted its holdings in ING Groep by 1.3% in the third quarter. State Street Corp now owns 358,479 shares of the financial services provider’s stock valued at $6,510,000 after purchasing an additional 4,542 shares during the period. ABC Arbitrage SA purchased a new position in shares of ING Groep in the 4th quarter valued at about $10,129,000. Crossmark Global Holdings Inc. grew its position in shares of ING Groep by 30.8% during the third quarter. Crossmark Global Holdings Inc. now owns 266,994 shares of the financial services provider’s stock worth $4,849,000 after buying an additional 62,801 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of ING Groep during the third quarter worth approximately $2,428,000. Finally, Natixis Advisors LLC raised its holdings in ING Groep by 71.3% in the third quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock valued at $60,051,000 after acquiring an additional 1,376,713 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Stock Performance

NYSE:ING opened at $17.17 on Tuesday. ING Groep has a 12 month low of $13.57 and a 12 month high of $18.72. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $60.05 billion, a PE ratio of 8.02, a price-to-earnings-growth ratio of 6.42 and a beta of 1.46. The business’s fifty day moving average price is $16.26 and its 200 day moving average price is $16.72.

ING Groep (NYSE:ING) last released its quarterly earnings data 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%. On average, sell-side analysts anticipate that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th were issued a dividend of $0.1667 per share. The ex-dividend date was Monday, January 13th. This represents a yield of 6.4%. ING Groep’s payout ratio is currently 29.91%.

Analysts Set New Price Targets

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

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.