917,366 Shares in ING Groep (NYSE:ING) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of ING Groep (NYSE:ING - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 917,366 shares of the financial services provider's stock, valued at approximately $14,375,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ING. OneDigital Investment Advisors LLC lifted its holdings in shares of ING Groep by 6.2% during the 3rd 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 position in ING Groep during the 3rd quarter valued at about $215,000. Caprock Group LLC lifted its holdings in ING Groep by 4.9% during the 3rd quarter. Caprock Group LLC now owns 97,105 shares of the financial services provider's stock valued at $1,763,000 after purchasing an additional 4,519 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in ING Groep by 3.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 84,236 shares of the financial services provider's stock valued at $1,530,000 after purchasing an additional 2,980 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in ING Groep during the 3rd quarter valued at about $2,004,000. 4.49% of the stock is owned by institutional investors.

ING Groep Price Performance

ING stock traded down $0.11 during trading on Friday, hitting $19.88. 3,765,587 shares of the stock traded hands, compared to its average volume of 2,267,045. ING Groep has a one year low of $15.09 and a one year high of $20.79. The stock has a market cap of $69.53 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 6.42 and a beta of 1.44. 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 50 day simple moving average of $17.71 and a 200 day simple moving average of $16.98.

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

ING Groep Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were issued a $0.1667 dividend. 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 (DPR) is presently 29.91%.

Analyst Upgrades and Downgrades

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

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.