Bridges Investment Management Inc. Trims Stock Holdings in ING Groep (NYSE:ING)

Bridges Investment Management Inc. decreased its position in ING Groep (NYSE:ING) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 567,485 shares of the financial services provider’s stock after selling 15,000 shares during the quarter. Bridges Investment Management Inc.’s holdings in ING Groep were worth $8,892,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ING. State Street Corp increased its stake in shares of ING Groep by 1.3% in 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 in the last quarter. ABC Arbitrage SA bought a new position in shares of ING Groep during the fourth quarter valued at approximately $10,129,000. Crossmark Global Holdings Inc. lifted its holdings 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 valued at $4,849,000 after purchasing an additional 62,801 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of ING Groep in the 3rd quarter worth approximately $2,428,000. Finally, Natixis Advisors LLC boosted its position in shares of ING Groep by 71.3% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Analysts Set New Price Targets

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

ING Groep Stock Performance

Shares of ING stock opened at $17.73 on Friday. The company has a market capitalization of $62.01 billion, a price-to-earnings ratio of 8.28, a price-to-earnings-growth ratio of 6.42 and a beta of 1.46. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. ING Groep has a one year low of $13.64 and a one year high of $18.72. The company’s 50-day moving average is $16.45 and its 200 day moving average is $16.75.

ING Groep (NYSE:ING) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 EPS 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%. Sell-side analysts expect that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Shareholders 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 payout ratio is 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.