Logan Capital Management Inc. Sells 4,667 Shares of ING Groep NV (ING)

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Logan Capital Management Inc. reduced its holdings in ING Groep NV (NYSE:ING) by 7.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,290 shares of the financial services provider’s stock after selling 4,667 shares during the period. Logan Capital Management Inc.’s holdings in ING Groep were worth $621,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its holdings in ING Groep by 0.8% during the fourth quarter. Fisher Asset Management LLC now owns 44,291,190 shares of the financial services provider’s stock worth $472,144,000 after buying an additional 345,276 shares in the last quarter. Morgan Stanley boosted its holdings in ING Groep by 13.2% during the third quarter. Morgan Stanley now owns 7,604,904 shares of the financial services provider’s stock worth $98,636,000 after buying an additional 888,075 shares in the last quarter. NWQ Investment Management Company LLC boosted its holdings in ING Groep by 44.6% during the third quarter. NWQ Investment Management Company LLC now owns 4,503,821 shares of the financial services provider’s stock worth $57,424,000 after buying an additional 1,388,181 shares in the last quarter. Assetmark Inc. boosted its holdings in ING Groep by 12.4% during the third quarter. Assetmark Inc. now owns 1,084,521 shares of the financial services provider’s stock worth $14,066,000 after buying an additional 119,687 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in ING Groep by 17.2% during the third quarter. Franklin Resources Inc. now owns 913,225 shares of the financial services provider’s stock worth $11,844,000 after buying an additional 134,253 shares in the last quarter. 3.33% of the stock is currently owned by institutional investors and hedge funds.

NYSE:ING opened at $12.23 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.40. The firm has a market cap of $48.33 billion, a price-to-earnings ratio of 7.46 and a beta of 1.22. ING Groep NV has a fifty-two week low of $10.21 and a fifty-two week high of $17.73.

ING Groep (NYSE:ING) last posted its quarterly earnings data on Wednesday, February 6th. The financial services provider reported $0.37 earnings per share for the quarter. The company had revenue of $5.14 billion during the quarter. ING Groep had a net margin of 26.05% and a return on equity of 9.19%. As a group, equities research analysts predict that ING Groep NV will post 1.53 EPS for the current year.

The business also recently disclosed a semiannual dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be given a dividend of $0.4974 per share. This represents a yield of 8.31%. The ex-dividend date is Thursday, April 25th. ING Groep’s dividend payout ratio is presently 26.83%.

A number of analysts recently issued reports on the stock. ValuEngine downgraded shares of ING Groep from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Royal Bank of Canada raised shares of ING Groep from a “sector perform” rating to an “outperform” rating in a report on Thursday. Zacks Investment Research downgraded shares of ING Groep from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. Societe Generale raised shares of ING Groep from a “hold” rating to a “buy” rating in a report on Wednesday, January 16th. Finally, Credit Suisse Group upgraded shares of ING Groep from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold”.

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ING Groep Company Profile

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.

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Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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