917,366 Shares in ING Groep (NYSE:ING) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of ING Groep (NYSE:ING) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 917,366 shares of the financial services provider’s stock, valued at approximately $14,375,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ING. Roxbury Financial LLC acquired a new position in shares of ING Groep during the fourth quarter worth $25,000. Brooklyn Investment Group grew its stake in shares of ING Groep by 184.8% during the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,207 shares in the last quarter. Versant Capital Management Inc acquired a new position in shares of ING Groep during the fourth quarter worth $45,000. IFP Advisors Inc grew its stake in shares of ING Groep by 25.1% during the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 621 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in ING Groep in the fourth quarter valued at $55,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

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

ING Groep Stock Performance

NYSE ING opened at $20.47 on Wednesday. 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 1 year low of $15.09 and a 1 year high of $20.79. The company has a market capitalization of $71.59 billion, a PE ratio of 9.56, a P/E/G ratio of 6.42 and a beta of 1.44. The company has a fifty day moving average of $17.44 and a two-hundred day moving average of $16.92.

ING Groep (NYSE:ING) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. As a group, analysts expect that ING Groep will post 2.14 earnings per share for the current 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 paid a dividend of $0.1667 per share. The ex-dividend date of this dividend was Monday, January 13th. This represents a dividend yield of 6.4%. ING Groep’s dividend payout ratio (DPR) is 29.91%.

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.