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

Bank of New York Mellon Corp lessened its position in ING Groep (NYSE:ING) by 52.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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.

Other large investors have also recently bought and sold shares of the company. IFP Advisors Inc increased 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 during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its holdings in ING Groep by 5.2% during the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 722 shares during the last quarter. Confluence Investment Management LLC increased its position in ING Groep by 1.7% in the 4th quarter. Confluence Investment Management LLC now owns 48,238 shares of the financial services provider’s stock valued at $756,000 after acquiring an additional 790 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of ING Groep by 4.6% during the third quarter. Integrated Wealth Concepts LLC now owns 20,029 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 875 shares during the last quarter. Finally, Brooklyn Investment Group lifted its holdings in shares of ING Groep by 184.8% during the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,207 shares during the period. 4.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

ING Groep Price Performance

Shares of ING opened at $20.27 on Tuesday. The business has a 50-day moving average of $17.35 and a 200-day moving average of $16.91. ING Groep has a 1 year low of $15.09 and a 1 year high of $20.79. The company has a market capitalization of $70.89 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44. 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 (NYSE:ING) last announced its earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. As a group, equities research analysts anticipate that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were paid 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 dividend payout ratio is currently 29.91%.

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.