ING Groep (NYSE:ING) Stake Increased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its holdings in ING Groep (NYSE:ING - Free Report) by 18.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,045 shares of the financial services provider's stock after purchasing an additional 14,476 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in ING Groep were worth $1,442,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in ING. Roxbury Financial LLC acquired a new stake in ING Groep in the fourth quarter valued at $25,000. Brooklyn Investment Group boosted its stake in shares of 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 acquiring an additional 1,207 shares during the last quarter. Versant Capital Management Inc purchased a new stake in shares of ING Groep during the fourth quarter worth about $45,000. IFP Advisors Inc lifted its stake in shares of ING Groep by 25.1% during the 4th 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, Whipplewood Advisors LLC purchased a new position in ING Groep during the fourth quarter worth about $55,000. Institutional investors and hedge funds own 4.49% of the company's stock.

Analyst Ratings Changes

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

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ING Groep Stock Performance

ING stock traded up $0.78 during midday trading on Friday, reaching $20.78. The company had a trading volume of 7,105,348 shares, compared to its average volume of 2,275,614. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. The firm has a market capitalization of $72.67 billion, a PE ratio of 9.71, a P/E/G ratio of 6.42 and a beta of 1.44. ING Groep has a fifty-two week low of $14.46 and a fifty-two week high of $20.79. The stock has a 50 day moving average price of $16.73 and a 200 day moving average price of $16.81.

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 the consensus estimate of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. Analysts anticipate 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. Stockholders of record on Monday, January 13th were paid a dividend of $0.1667 per share. This represents a dividend yield of 6.4%. The ex-dividend date of this dividend was Monday, January 13th. ING Groep's dividend payout ratio is presently 29.91%.

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.