Oppenheimer Asset Management Inc. Buys 14,476 Shares of ING Groep (NYSE:ING)

Oppenheimer Asset Management Inc. grew its stake in ING Groep (NYSE:ING) by 18.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Whipplewood Advisors LLC bought a new position in ING Groep during the 4th quarter valued at $55,000. Todd Asset Management LLC raised its holdings in shares of ING Groep by 1.6% in the fourth quarter. Todd Asset Management LLC now owns 2,771,941 shares of the financial services provider’s stock valued at $43,436,000 after purchasing an additional 42,851 shares during the last quarter. IFP Advisors Inc lifted its position in shares of ING Groep by 25.1% during the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 621 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in ING Groep by 97.4% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 51,922 shares of the financial services provider’s stock worth $814,000 after purchasing an additional 25,624 shares during the last quarter. Finally, Hardy Reed LLC purchased a new position in ING Groep during the fourth quarter worth about $164,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Stock Up 3.6 %

Shares of NYSE:ING opened at $18.37 on Tuesday. ING Groep has a 1 year low of $14.04 and a 1 year high of $18.74. The company has a market capitalization of $64.26 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 6.42 and a beta of 1.46. The business has a fifty day moving average price of $16.51 and a two-hundred day moving average price of $16.76. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13.

ING Groep (NYSE:ING) last issued its quarterly 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%. Analysts forecast that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

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

Analyst Upgrades and Downgrades

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

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.