Bank of New York Mellon Corp Sells 323,976 Shares of ING Groep (NYSE:ING)

Bank of New York Mellon Corp reduced its stake in ING Groep (NYSE:ING - Free Report) by 52.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

A number of other institutional investors have also made changes to their positions in ING. Roxbury Financial LLC bought a new position in ING Groep during the fourth quarter worth about $25,000. Brooklyn Investment Group grew its holdings in ING Groep by 184.8% during the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 1,207 shares during the period. Versant Capital Management Inc acquired a new position in ING Groep during the fourth quarter valued at approximately $45,000. IFP Advisors Inc raised its holdings in ING Groep by 25.1% in the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock worth $48,000 after purchasing an additional 621 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in ING Groep in the fourth quarter worth $65,000. 4.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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ING Groep Stock Performance

NYSE:ING traded down $0.11 during mid-day trading on Friday, hitting $19.88. The stock had a trading volume of 3,556,107 shares, compared to its average volume of 2,270,912. ING Groep has a twelve month low of $15.09 and a twelve month high of $20.79. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $69.53 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 6.42 and a beta of 1.44. The company's 50 day simple moving average is $17.62 and its 200 day simple moving average is $16.97.

ING Groep (NYSE:ING - Get Free Report) last posted its earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (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%. On average, equities research analysts forecast that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th were issued a $0.1667 dividend. The ex-dividend date of this dividend was Monday, January 13th. This represents a yield of 6.4%. ING Groep's dividend payout ratio is presently 29.91%.

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.