Pzena Investment Management LLC Acquires 4,608 Shares of ING Groep (NYSE:ING)

Pzena Investment Management LLC grew its stake in ING Groep (NYSE:ING) by 9.2% during the 4th quarter, HoldingsChannel reports. The firm owned 54,540 shares of the financial services provider’s stock after acquiring an additional 4,608 shares during the quarter. Pzena Investment Management LLC’s holdings in ING Groep were worth $855,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fisher Asset Management LLC boosted its stake in ING Groep by 0.6% in the 3rd quarter. Fisher Asset Management LLC now owns 68,451,083 shares of the financial services provider’s stock valued at $1,243,072,000 after buying an additional 429,562 shares in the last quarter. Natixis Advisors LLC lifted its holdings in shares of ING Groep by 71.3% during the third quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock valued at $60,051,000 after acquiring an additional 1,376,713 shares during the period. 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 valued at $43,436,000 after purchasing an additional 42,851 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of ING Groep by 1.7% in the 3rd quarter. HighTower Advisors LLC now owns 948,188 shares of the financial services provider’s stock valued at $17,180,000 after purchasing an additional 15,964 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of ING Groep in the 4th quarter worth about $14,375,000. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Groep Stock Down 0.4 %

NYSE ING opened at $19.89 on Wednesday. The stock’s 50 day simple moving average is $17.00 and its 200 day simple moving average is $16.85. 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 has a one year low of $15.09 and a one year high of $20.79. The firm has a market cap of $69.58 billion, a PE ratio of 9.29, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44.

ING Groep (NYSE:ING) last announced its earnings results on Thursday, February 6th. The financial services provider reported $0.39 EPS 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%. As a group, sell-side 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 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. 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%.

Analysts Set New Price Targets

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

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.