JPMorgan Chase & Co. Sells 162,061 Shares of ING Groep (NYSE:ING)

JPMorgan Chase & Co. lessened its holdings in shares of ING Groep (NYSE:ING - Free Report) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,038,130 shares of the financial services provider's stock after selling 162,061 shares during the period. JPMorgan Chase & Co.'s holdings in ING Groep were worth $18,852,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its stake in shares of ING Groep by 1.3% during the 3rd quarter. State Street Corp now owns 358,479 shares of the financial services provider's stock worth $6,510,000 after acquiring an additional 4,542 shares during the last quarter. Creative Planning lifted its position in shares of ING Groep by 18.4% during the second quarter. Creative Planning now owns 209,405 shares of the financial services provider's stock worth $3,589,000 after purchasing an additional 32,534 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of ING Groep by 30.8% during the third quarter. Crossmark Global Holdings Inc. now owns 266,994 shares of the financial services provider's stock worth $4,849,000 after purchasing an additional 62,801 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of ING Groep during the third quarter valued at $2,428,000. Finally, Natixis Advisors LLC grew its holdings in shares of ING Groep by 71.3% in the third quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider's stock worth $60,051,000 after purchasing an additional 1,376,713 shares during the last quarter. Institutional investors own 4.49% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Citigroup upgraded shares of ING Groep to a "strong-buy" rating in a report on Thursday, October 17th. Barclays downgraded shares of ING Groep from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, October 22nd. Morgan Stanley cut ING Groep from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft lowered ING Groep from a "buy" rating to a "hold" rating in a research report on Wednesday, October 9th.

ING Groep Stock Down 1.4 %

NYSE ING traded down $0.22 during trading on Friday, reaching $15.56. 2,634,878 shares of the company's stock traded hands, compared to its average volume of 2,642,479. The company's 50 day simple moving average is $15.67 and its two-hundred day simple moving average is $16.98. ING Groep has a 12-month low of $12.77 and a 12-month high of $18.72. The firm has a market cap of $54.43 billion, a price-to-earnings ratio of 6.98, a price-to-earnings-growth ratio of 5.97 and a beta of 1.47. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13.

ING Groep Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th will be issued a dividend of $0.1667 per share. The ex-dividend date is Monday, January 13th. This represents a yield of 6.4%. ING Groep's dividend payout ratio is currently 12.56%.

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.