New York State Common Retirement Fund Sells 24,598 Shares of ING Group, N.V. $ING

New York State Common Retirement Fund reduced its stake in ING Group, N.V. (NYSE:ING) by 17.0% during the 3rd quarter, Holdings Channel reports. The firm owned 119,940 shares of the financial services provider’s stock after selling 24,598 shares during the period. New York State Common Retirement Fund’s holdings in ING Group were worth $3,128,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Amundi acquired a new position in ING Group in the first quarter valued at about $760,000. AQR Capital Management LLC increased its stake in shares of ING Group by 27.0% in the 1st quarter. AQR Capital Management LLC now owns 87,240 shares of the financial services provider’s stock valued at $1,709,000 after acquiring an additional 18,562 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in shares of ING Group by 5.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 21,329 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 1,094 shares during the period. Sivia Capital Partners LLC boosted its stake in ING Group by 19.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 16,823 shares of the financial services provider’s stock worth $368,000 after acquiring an additional 2,745 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new position in ING Group during the second quarter valued at approximately $98,000. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Group Stock Up 1.7%

ING stock opened at $30.07 on Friday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $87.51 billion, a P/E ratio of 12.58, a P/E/G ratio of 1.46 and a beta of 0.80. ING Group, N.V. has a fifty-two week low of $16.26 and a fifty-two week high of $31.17. The business has a 50-day moving average of $28.33 and a 200-day moving average of $25.99.

ING Group (NYSE:ING) last released its earnings results on Thursday, January 29th. The financial services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.50 by $0.06. ING Group had a return on equity of 12.26% and a net margin of 27.50%.The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $6.67 billion. On average, sell-side analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 17th will be given a $0.8796 dividend. The ex-dividend date of this dividend is Friday, April 17th. This represents a yield of 589.0%. ING Group’s dividend payout ratio (DPR) is 28.87%.

Analyst Ratings Changes

Several equities research analysts have weighed in on ING shares. Deutsche Bank Aktiengesellschaft upgraded shares of ING Group from a “hold” rating to a “buy” rating in a report on Monday, February 2nd. Citigroup upgraded ING Group to a “strong-buy” rating in a report on Friday, November 21st. Jefferies Financial Group assumed coverage on ING Group in a report on Tuesday, January 27th. They issued a “hold” rating for the company. Zacks Research upgraded ING Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, Keefe, Bruyette & Woods lowered ING Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, ING Group presently has a consensus rating of “Buy”.

ING Group Company Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.