ING Groep (NYSE:ING) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its holdings in ING Groep (NYSE:ING) by 10.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,871 shares of the financial services provider’s stock after selling 7,549 shares during the quarter. Janney Montgomery Scott LLC’s holdings in ING Groep were worth $970,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in shares of ING Groep by 1.3% during the 3rd quarter. State Street Corp now owns 358,479 shares of the financial services provider’s stock worth $6,510,000 after acquiring an additional 4,542 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in 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 purchasing an additional 62,801 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in ING Groep in the third quarter valued at $2,428,000. Natixis Advisors LLC increased its position in shares of 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 buying an additional 1,376,713 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of ING Groep by 18.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 212,174 shares of the financial services provider’s stock valued at $3,853,000 after buying an additional 32,701 shares in the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

ING Groep Stock Performance

NYSE:ING opened at $16.63 on Thursday. ING Groep has a 1-year low of $12.77 and a 1-year high of $18.72. The firm has a 50 day simple moving average of $15.89 and a 200-day simple moving average of $16.81. The firm has a market cap of $58.16 billion, a PE ratio of 7.46, a P/E/G ratio of 6.18 and a beta of 1.46. 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 Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were issued a dividend of $0.1667 per share. This represents a dividend yield of 6.4%. The ex-dividend date was Monday, January 13th. ING Groep’s dividend payout ratio (DPR) is 29.15%.

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.