Bank of New York Mellon Corp Has $4.58 Million Stock Holdings in ING Groep (NYSE:ING)

Bank of New York Mellon Corp trimmed its position in ING Groep (NYSE:ING) by 52.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 292,099 shares of the financial services provider’s stock after selling 323,976 shares during the period. Bank of New York Mellon Corp’s holdings in ING Groep were worth $4,577,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ING. Roxbury Financial LLC acquired a new position in shares of ING Groep during the fourth quarter worth approximately $25,000. Brooklyn Investment Group increased its stake in ING Groep by 184.8% during the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 1,207 shares in the last quarter. Versant Capital Management Inc acquired a new position in ING Groep during the fourth quarter worth $45,000. IFP Advisors Inc lifted its stake in shares of ING Groep by 25.1% in the fourth 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. Finally, Sierra Ocean LLC acquired a new position in shares of ING Groep during the fourth quarter valued at about $65,000. 4.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

ING Groep Trading Up 0.0 %

Shares of ING Groep stock opened at $20.27 on Tuesday. The company has a market capitalization of $70.89 billion, a P/E ratio of 9.47, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44. The stock has a fifty day simple moving average of $17.35 and a 200 day simple moving average of $16.91. ING Groep has a 12-month low of $15.09 and a 12-month high of $20.79. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89.

ING Groep (NYSE:ING) last posted its 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%. 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 company also recently disclosed a semi-annual dividend, which was paid on Thursday, January 23rd. Shareholders 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 yield of 6.4%. ING Groep’s dividend payout ratio (DPR) is 29.91%.

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.