ABC Arbitrage SA Purchases Shares of 646,363 ING Groep (NYSE:ING)

ABC Arbitrage SA bought a new position in ING Groep (NYSE:ING - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 646,363 shares of the financial services provider's stock, valued at approximately $10,129,000. ING Groep makes up about 1.5% of ABC Arbitrage SA's portfolio, making the stock its 15th largest holding.

Other large investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in shares of ING Groep in the 3rd quarter valued at about $25,000. Brooklyn Investment Group increased its position in ING Groep by 184.8% in the 4th 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 last quarter. Versant Capital Management Inc purchased a new stake in shares of ING Groep during the 4th quarter worth about $45,000. Brown Brothers Harriman & Co. acquired a new stake in shares of ING Groep during the 3rd quarter valued at about $91,000. Finally, Raymond James Trust N.A. acquired a new stake in ING Groep in the third quarter valued at approximately $185,000. 4.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ING has been the topic of a number of analyst reports. Morgan Stanley lowered ING Groep from an "overweight" rating to an "equal weight" rating in a report on Tuesday, November 26th. 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

ING stock traded down $0.40 during midday trading on Wednesday, hitting $17.04. The stock had a trading volume of 2,751,501 shares, compared to its average volume of 2,606,666. The firm has a market capitalization of $59.59 billion, a price-to-earnings ratio of 7.96, a P/E/G ratio of 6.38 and a beta of 1.46. 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 50-day simple moving average of $16.13 and a 200 day simple moving average of $16.71. ING Groep has a 52 week low of $13.56 and a 52 week high of $18.72.

ING Groep (NYSE:ING - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 EPS 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 business also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were given a dividend of $0.1667 per share. The ex-dividend date of this dividend was Monday, January 13th. This represents a dividend yield of 6.4%. ING Groep's dividend payout ratio (DPR) is presently 30.37%.

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.