Corient Private Wealth LLC Sells 10,866 Shares of ING Groep (NYSE:ING)

Corient Private Wealth LLC lessened its holdings in shares of ING Groep (NYSE:ING) by 15.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,870 shares of the financial services provider’s stock after selling 10,866 shares during the quarter. Corient Private Wealth LLC’s holdings in ING Groep were worth $954,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Thrivent Financial for Lutherans bought a new stake in shares of ING Groep during the third quarter worth about $215,000. Charles Schwab Investment Management Inc. boosted its stake in ING Groep by 18.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 212,174 shares of the financial services provider’s stock valued at $3,853,000 after purchasing an additional 32,701 shares during the last quarter. Raymond James Trust N.A. bought a new stake in ING Groep during the 3rd quarter worth approximately $185,000. Cerity Partners LLC raised its stake in shares of ING Groep by 51.7% in the third quarter. Cerity Partners LLC now owns 263,445 shares of the financial services provider’s stock worth $4,784,000 after purchasing an additional 89,793 shares during the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in shares of ING Groep in the third quarter valued at approximately $91,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded ING Groep from a “neutral” rating to a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

ING Groep Trading Up 0.1 %

Shares of ING stock opened at $20.09 on Friday. ING Groep has a 52-week low of $15.09 and a 52-week high of $20.79. The company has a 50-day simple moving average of $18.02 and a two-hundred day simple moving average of $17.04. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $70.26 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 6.42 and a beta of 1.44.

ING Groep (NYSE:ING) last issued 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%. Research analysts anticipate that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.6526 per share. This represents a dividend yield of 5.1%. This is a boost from ING Groep’s previous semi-annual dividend of $0.17. The ex-dividend date is Friday, April 25th. ING Groep’s payout ratio is presently 29.91%.

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.