Rhumbline Advisers Sells 15,880 Shares of ING Groep (NYSE:ING)

Rhumbline Advisers trimmed its holdings in ING Groep (NYSE:ING) by 17.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 74,554 shares of the financial services provider’s stock after selling 15,880 shares during the period. Rhumbline Advisers’ holdings in ING Groep were worth $1,168,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group boosted its holdings in shares of ING Groep by 184.8% during the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 1,207 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of ING Groep during the fourth quarter valued at approximately $45,000. Brown Brothers Harriman & Co. bought a new position in ING Groep during the third quarter valued at approximately $91,000. Cottonwood Capital Advisors LLC purchased a new stake in ING Groep in the fourth quarter worth approximately $169,000. Finally, HB Wealth Management LLC bought a new stake in ING Groep in the 4th quarter worth approximately $177,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

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

ING Groep Trading Up 5.6 %

Shares of NYSE:ING opened at $19.49 on Thursday. The stock’s 50-day simple moving average is $16.64 and its two-hundred day simple moving average is $16.78. The stock has a market capitalization of $68.16 billion, a price-to-earnings ratio of 9.11, a PEG ratio of 6.42 and a beta of 1.44. ING Groep has a 52-week low of $14.28 and a 52-week high of $19.50. 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 (NYSE:ING) last posted its quarterly earnings data 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%. Analysts expect that ING Groep will post 2.14 EPS for the current year.

ING Groep Cuts Dividend

The firm also recently disclosed 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 payout ratio is 29.91%.

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.