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

JPMorgan Chase & Co. cut its stake in ING Groep (NYSE:ING) by 13.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of ING. Beverly Hills Private Wealth LLC raised its position in ING Groep by 4.7% in the 2nd quarter. Beverly Hills Private Wealth LLC now owns 13,414 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 602 shares during the last quarter. Valeo Financial Advisors LLC raised its position in shares of ING Groep by 6.5% during the third quarter. Valeo Financial Advisors LLC now owns 11,243 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 684 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of ING Groep by 6.6% during the third quarter. Wedmont Private Capital now owns 11,047 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 688 shares during the period. Hexagon Capital Partners LLC boosted its holdings in ING Groep by 22.3% in the third quarter. Hexagon Capital Partners LLC now owns 3,879 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 706 shares during the last quarter. Finally, Mather Group LLC. increased its position in ING Groep by 57.3% in the third quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 782 shares during the period. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ING has been the topic of a number of research reports. Morgan Stanley downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft cut shares of ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Citigroup upgraded shares of ING Groep to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Barclays lowered ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 22nd.

ING Groep Price Performance

ING Groep stock opened at $15.79 on Friday. The firm has a market capitalization of $55.24 billion, a P/E ratio of 7.08, a PEG ratio of 5.97 and a beta of 1.47. The business has a 50-day moving average of $15.70 and a 200-day moving average of $16.99. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. ING Groep has a 1 year low of $12.77 and a 1 year high of $18.72.

ING Groep Cuts Dividend

The company 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 $0.1667 dividend. The ex-dividend date is Monday, January 13th. This represents a yield of 6.4%. ING Groep’s dividend payout ratio (DPR) is presently 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.