Fisher Asset Management LLC Sells 2,429,895 Shares of ING Groep (NYSE:ING)

Fisher Asset Management LLC decreased its holdings in shares of ING Groep (NYSE:ING) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,021,188 shares of the financial services provider’s stock after selling 2,429,895 shares during the quarter. Fisher Asset Management LLC’s holdings in ING Groep were worth $1,034,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. IFP Advisors Inc raised its holdings in ING Groep by 25.1% during the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 621 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its holdings in ING Groep by 5.2% during the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider’s stock valued at $229,000 after acquiring an additional 722 shares during the period. Confluence Investment Management LLC raised its holdings in ING Groep by 1.7% during the 4th quarter. Confluence Investment Management LLC now owns 48,238 shares of the financial services provider’s stock valued at $756,000 after acquiring an additional 790 shares during the period. Integrated Wealth Concepts LLC raised its holdings in ING Groep by 4.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 20,029 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 875 shares during the period. Finally, Verdence Capital Advisors LLC raised its holdings in ING Groep by 2.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 51,547 shares of the financial services provider’s stock valued at $936,000 after acquiring an additional 1,105 shares during the period. Institutional investors own 4.49% of the company’s stock.

Analysts Set New Price Targets

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

ING Groep Trading Up 0.2 %

ING Groep stock opened at $17.73 on Friday. The stock has a market cap of $62.01 billion, a P/E ratio of 8.28, a PEG ratio of 6.42 and a beta of 1.46. ING Groep has a fifty-two week low of $13.64 and a fifty-two week high of $18.72. The firm’s fifty day moving average price is $16.45 and its 200-day moving average price is $16.75. 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 (NYSE:ING) last released its quarterly earnings results 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%. Equities research analysts forecast that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were given a $0.1667 dividend. The ex-dividend date was Monday, January 13th. This represents a yield of 6.4%. ING Groep’s dividend payout ratio (DPR) is presently 29.91%.

ING Groep 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.