JPL Wealth Management LLC Acquires Shares of 131,084 ING Groep (NYSE:ING)

JPL Wealth Management LLC acquired a new stake in shares of ING Groep (NYSE:ING) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 131,084 shares of the financial services provider’s stock, valued at approximately $2,054,000.

Several other institutional investors and hedge funds have also bought and sold shares of ING. Natixis Advisors LLC lifted its stake in ING Groep by 71.3% during the 3rd 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. Raymond James Financial Inc. purchased a new position in shares of ING Groep during the 4th quarter valued at approximately $14,375,000. ABC Arbitrage SA purchased a new position in shares of ING Groep during the 4th quarter valued at approximately $10,129,000. Public Employees Retirement System of Ohio purchased a new position in shares of ING Groep during the 3rd quarter valued at approximately $9,924,000. Finally, Fisher Asset Management LLC increased its holdings in shares of ING Groep by 0.6% during 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 purchasing an additional 429,562 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Groep Price Performance

Shares of NYSE ING opened at $19.97 on Thursday. The firm has a market cap of $69.84 billion, a PE ratio of 9.33, a PEG ratio of 6.42 and a beta of 1.44. The firm has a fifty day moving average of $17.09 and a 200 day moving average of $16.87. 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 has a one year low of $15.09 and a one year high of $20.79.

ING Groep (NYSE:ING) last released its earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (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%. As a group, research analysts predict that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were issued 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 payout ratio is 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 report 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.