Cerity Partners LLC Sells 23,789 Shares of ING Groep (NYSE:ING)

Cerity Partners LLC trimmed its position in shares of ING Groep (NYSE:ING - Free Report) by 9.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 239,656 shares of the financial services provider's stock after selling 23,789 shares during the period. Cerity Partners LLC's holdings in ING Groep were worth $3,925,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ING. Raymond James Financial Inc. bought a new stake in shares of ING Groep during the fourth quarter valued at approximately $14,375,000. State Street Corp increased its holdings in ING Groep by 1.3% in the 3rd quarter. State Street Corp now owns 358,479 shares of the financial services provider's stock valued at $6,510,000 after acquiring an additional 4,542 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in ING Groep by 18.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 92,045 shares of the financial services provider's stock worth $1,442,000 after purchasing an additional 14,476 shares in the last quarter. ABC Arbitrage SA bought a new position in shares of ING Groep during the 4th quarter valued at about $10,129,000. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of ING Groep by 97.4% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 51,922 shares of the financial services provider's stock valued at $814,000 after purchasing an additional 25,624 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors.

ING Groep Price Performance

ING stock traded up $0.09 during trading on Friday, hitting $18.65. 2,215,257 shares of the company's stock traded hands, compared to its average volume of 2,322,568. The business has a fifty day simple moving average of $18.61 and a 200 day simple moving average of $17.06. ING Groep has a 52 week low of $15.09 and a 52 week 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 capitalization of $65.22 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 6.42 and a beta of 1.07.

ING Groep (NYSE:ING - Get Free Report) last announced its quarterly 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 net margin of 28.30% and a return on equity of 11.81%. As a group, research analysts expect that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a dividend of $0.6526 per share. The ex-dividend date is Friday, April 25th. This represents a dividend yield of 5.1%. This is an increase from ING Groep's previous semi-annual dividend of $0.17. ING Groep's payout ratio is currently 60.75%.

Wall Street Analysts Forecast Growth

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

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.