Oppenheimer Asset Management Inc. Sells 16,724 Shares of ING Groep (NYSE:ING)

Oppenheimer Asset Management Inc. lessened its position in shares of ING Groep (NYSE:ING) by 14.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,702 shares of the financial services provider’s stock after selling 16,724 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ING Groep were worth $1,760,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ING. Financial Management Professionals Inc. grew its holdings in shares of ING Groep by 67.8% in the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 662 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in shares of ING Groep in the 4th quarter worth $28,000. Summit Securities Group LLC bought a new stake in shares of ING Groep in the 2nd quarter worth about $31,000. Rothschild Investment LLC purchased a new stake in shares of ING Groep during the 2nd quarter valued at about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of ING Groep in the 2nd quarter valued at about $38,000. Institutional investors own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Barclays raised ING Groep from an “equal weight” rating to an “overweight” rating in a research note on Friday, June 7th.

ING Groep Stock Performance

NYSE ING opened at $18.40 on Thursday. The business’s 50 day moving average price is $17.80 and its 200-day moving average price is $17.10. ING Groep has a fifty-two week low of $12.44 and a fifty-two week high of $18.66. The company has a market cap of $64.37 billion, a P/E ratio of 8.14 and a beta of 1.52. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.12 and a current ratio of 0.95.

ING Groep (NYSE:ING) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. The business had revenue of $6.15 billion for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same quarter last year, the firm earned $0.65 EPS. Sell-side analysts predict that ING Groep will post 2.02 earnings per share for the current year.

ING Groep Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 19th. Shareholders of record on Thursday, August 8th were paid a $0.8143 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a yield of 5.9%. This is an increase from ING Groep’s previous semi-annual dividend of $0.70. ING Groep’s dividend payout ratio (DPR) is presently 28.32%.

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.