LPL Financial LLC Lowers Holdings in ING Groep (NYSE:ING)

LPL Financial LLC lessened its stake in shares of ING Groep (NYSE:ING - Free Report) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 426,899 shares of the financial services provider's stock after selling 20,534 shares during the quarter. LPL Financial LLC's holdings in ING Groep were worth $6,689,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ING. Raymond James Financial Inc. purchased a new stake in ING Groep during the fourth quarter valued at $14,375,000. Guardian Partners Inc. bought a new stake in shares of ING Groep during the 4th quarter valued at about $11,730,000. ABC Arbitrage SA bought a new stake in shares of ING Groep during the 4th quarter valued at about $10,129,000. Public Employees Retirement System of Ohio purchased a new stake in shares of ING Groep during the 3rd quarter valued at about $9,924,000. Finally, JPL Wealth Management LLC bought a new position in shares of ING Groep in the 4th quarter worth approximately $2,054,000. 4.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ING Groep Stock Performance

NYSE ING traded up $0.82 on Friday, hitting $18.24. 3,787,006 shares of the company traded hands, compared to its average volume of 2,354,403. The business's 50 day moving average price is $18.44 and its 200-day moving average price is $17.04. ING Groep has a 52-week low of $15.09 and a 52-week high of $20.79. 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 company has a market capitalization of $63.79 billion, a price-to-earnings ratio of 8.52, a P/E/G ratio of 6.42 and a beta of 1.07.

ING Groep (NYSE:ING - Get Free Report) last posted its quarterly earnings data 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%. Equities analysts expect that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a $0.6526 dividend. This is a positive change from ING Groep's previous semi-annual dividend of $0.17. This represents a dividend yield of 5.1%. The ex-dividend date of this dividend is Friday, April 25th. ING Groep's dividend payout ratio is presently 60.75%.

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.