Arrowstreet Capital Limited Partnership Cuts Position in ING Groep (NYSE:ING)

Arrowstreet Capital Limited Partnership reduced its position in ING Groep (NYSE:ING - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,707,990 shares of the financial services provider's stock after selling 1,080,423 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.19% of ING Groep worth $105,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Thrivent Financial for Lutherans purchased a new position in ING Groep in the third quarter worth about $215,000. Charles Schwab Investment Management Inc. lifted its stake in shares of ING Groep by 18.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 212,174 shares of the financial services provider's stock worth $3,853,000 after purchasing an additional 32,701 shares during the period. Townsquare Capital LLC boosted its holdings in shares of ING Groep by 34.6% in the third quarter. Townsquare Capital LLC now owns 68,138 shares of the financial services provider's stock worth $1,237,000 after buying an additional 17,529 shares during the last quarter. Glenmede Trust Co. NA grew its position in ING Groep by 5.1% during the third quarter. Glenmede Trust Co. NA now owns 26,462 shares of the financial services provider's stock valued at $481,000 after buying an additional 1,287 shares during the period. Finally, Captrust Financial Advisors increased its holdings in ING Groep by 5.8% during the third quarter. Captrust Financial Advisors now owns 65,289 shares of the financial services provider's stock valued at $1,186,000 after buying an additional 3,552 shares during the last quarter. Institutional investors own 4.49% of the company's stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded shares of ING Groep from a "neutral" rating to a "buy" rating in a research note on Thursday, March 27th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy".

ING Groep Stock Performance

Shares of NYSE ING traded down $1.65 during trading on Friday, hitting $17.35. The company had a trading volume of 6,373,506 shares, compared to its average volume of 2,294,458. The stock has a 50 day simple moving average of $18.34 and a 200 day simple moving average of $17.09. The firm has a market capitalization of $60.70 billion, a P/E ratio of 8.11, a price-to-earnings-growth ratio of 6.42 and a beta of 1.07. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. ING Groep has a 12 month low of $15.09 and a 12 month high of $20.79.

ING Groep (NYSE:ING - Get Free Report) last released its earnings results 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, analysts anticipate that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be paid a dividend of $0.6526 per share. This represents a yield of 5.1%. This is a boost from ING Groep's previous semi-annual dividend of $0.17. The ex-dividend date of this dividend is Friday, April 25th. ING Groep's dividend payout ratio (DPR) is presently 60.75%.

ING Groep Company 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.