Fisher Asset Management LLC Has $1.03 Billion Stake in ING Groep (NYSE:ING)

Fisher Asset Management LLC lowered its stake in shares of ING Groep (NYSE:ING) by 3.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 66,021,188 shares of the financial services provider’s stock after selling 2,429,895 shares during the period. Fisher Asset Management LLC owned approximately 1.89% of ING Groep worth $1,034,552,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Oppenheimer Asset Management Inc. boosted its stake in shares of ING Groep by 18.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 92,045 shares of the financial services provider’s stock worth $1,442,000 after buying an additional 14,476 shares during the last quarter. Whipplewood Advisors LLC purchased a new position in shares of ING Groep in the 4th quarter worth approximately $55,000. Todd Asset Management LLC boosted its stake in shares of ING Groep by 1.6% in the 4th quarter. Todd Asset Management LLC now owns 2,771,941 shares of the financial services provider’s stock worth $43,436,000 after buying an additional 42,851 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of ING Groep by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock worth $48,000 after buying an additional 621 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in shares of ING Groep by 97.4% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 51,922 shares of the financial services provider’s stock worth $814,000 after buying an additional 25,624 shares during the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Trading Up 0.2 %

NYSE:ING opened at $17.73 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The stock has a market capitalization of $62.01 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 6.42 and a beta of 1.46. The firm’s 50 day moving average is $16.45 and its 200 day moving average is $16.75. ING Groep has a 12 month low of $13.64 and a 12 month high of $18.72.

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 return on equity of 11.81% and a net margin of 28.30%. Sell-side analysts expect that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

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

Analyst Ratings Changes

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

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.