Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in ING Groep (NYSE:ING)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in ING Groep (NYSE:ING - Free Report) by 56.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 172,067 shares of the financial services provider's stock after acquiring an additional 61,734 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in ING Groep were worth $2,696,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ING. OneDigital Investment Advisors LLC boosted its holdings in shares of ING Groep by 6.2% in the third quarter. OneDigital Investment Advisors LLC now owns 22,672 shares of the financial services provider's stock worth $412,000 after acquiring an additional 1,314 shares during the period. Thrivent Financial for Lutherans bought a new stake in ING Groep during the third quarter valued at $215,000. Caprock Group LLC boosted its stake in ING Groep by 4.9% during the third quarter. Caprock Group LLC now owns 97,105 shares of the financial services provider's stock valued at $1,763,000 after buying an additional 4,519 shares during the period. PNC Financial Services Group Inc. boosted its stake in ING Groep by 3.7% during the third quarter. PNC Financial Services Group Inc. now owns 84,236 shares of the financial services provider's stock valued at $1,530,000 after buying an additional 2,980 shares during the period. Finally, King Luther Capital Management Corp boosted its stake in ING Groep by 9.1% during the third quarter. King Luther Capital Management Corp now owns 19,836 shares of the financial services provider's stock valued at $360,000 after buying an additional 1,648 shares during the period. 4.49% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Separately, Morgan Stanley lowered ING Groep from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, November 26th.

ING Groep Price Performance

NYSE ING traded down $0.11 during trading hours on Friday, reaching $19.88. 3,765,587 shares of the stock traded hands, compared to its average volume of 2,270,912. The stock has a 50 day simple moving average of $17.62 and a two-hundred day simple moving average of $16.97. ING Groep has a 1 year low of $15.09 and a 1 year high of $20.79. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $69.53 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44.

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

ING Groep Cuts Dividend

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

ING Groep 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.