JPMorgan Chase & Co. Sells 162,061 Shares of ING Groep (NYSE:ING)

JPMorgan Chase & Co. trimmed its position in shares of ING Groep (NYSE:ING) by 13.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,038,130 shares of the financial services provider’s stock after selling 162,061 shares during the period. JPMorgan Chase & Co.’s holdings in ING Groep were worth $18,852,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of ING Groep by 1.3% during 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. Creative Planning increased its holdings in ING Groep by 18.4% in the 2nd quarter. Creative Planning now owns 209,405 shares of the financial services provider’s stock valued at $3,589,000 after buying an additional 32,534 shares during the period. Crossmark Global Holdings Inc. increased its holdings in ING Groep by 30.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 266,994 shares of the financial services provider’s stock valued at $4,849,000 after buying an additional 62,801 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in shares of ING Groep in the 3rd quarter valued at $2,428,000. Finally, Natixis Advisors LLC lifted its holdings in shares of ING Groep by 71.3% during the 3rd quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock worth $60,051,000 after acquiring an additional 1,376,713 shares during the period. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Price Performance

Shares of ING Groep stock opened at $15.79 on Friday. ING Groep has a 1-year low of $12.77 and a 1-year high of $18.72. The firm’s 50-day moving average price is $15.70 and its two-hundred day moving average price is $16.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The stock has a market capitalization of $55.24 billion, a price-to-earnings ratio of 7.08, a P/E/G ratio of 5.97 and a beta of 1.47.

ING Groep Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, January 23rd. Investors of record on Monday, January 13th will be issued a dividend of $0.1667 per share. The ex-dividend date is Monday, January 13th. This represents a yield of 6.4%. ING Groep’s dividend payout ratio is 12.56%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Morgan Stanley cut ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th. Citigroup raised ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Barclays lowered ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 22nd.

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.