Cresset Asset Management LLC Has $321,000 Stock Holdings in ING Groep (NYSE:ING)

Cresset Asset Management LLC cut its holdings in ING Groep (NYSE:ING) by 81.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,480 shares of the financial services provider’s stock after selling 90,278 shares during the quarter. Cresset Asset Management LLC’s holdings in ING Groep were worth $321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of ING Groep in the fourth quarter valued at $14,375,000. Oppenheimer Asset Management Inc. increased its position in ING Groep by 18.7% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 92,045 shares of the financial services provider’s stock worth $1,442,000 after purchasing an additional 14,476 shares during the period. ABC Arbitrage SA acquired a new stake in ING Groep in the fourth quarter worth about $10,129,000. Y Intercept Hong Kong Ltd increased its position in ING Groep by 97.4% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 51,922 shares of the financial services provider’s stock worth $814,000 after purchasing an additional 25,624 shares during the period. Finally, Boston Partners increased its position in ING Groep by 33.2% in the fourth quarter. Boston Partners now owns 166,401 shares of the financial services provider’s stock worth $2,614,000 after purchasing an additional 41,457 shares during the period. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Groep Stock Performance

Shares of ING stock opened at $21.18 on Friday. The stock has a market cap of $74.07 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 6.42 and a beta of 1.15. The stock has a 50-day moving average of $19.44 and a 200-day moving average of $17.45. 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 one year low of $15.09 and a one year high of $21.22.

ING Groep (NYSE:ING) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The firm had revenue of $6.36 billion for the quarter, compared to analyst estimates of $5.74 billion. ING Groep had a net margin of 28.30% and a return on equity of 11.81%. As a group, sell-side analysts expect that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were given a dividend of $0.6526 per share. The ex-dividend date was Friday, April 25th. This represents a dividend yield of 5.1%. This is a positive change from ING Groep’s previous semi-annual dividend of $0.17. ING Groep’s dividend payout ratio (DPR) is currently 64.45%.

Analysts Set New Price Targets

A number of analysts recently commented on ING shares. The Goldman Sachs Group upgraded ING Groep from a “neutral” rating to a “buy” rating in a research report on Thursday, March 27th. Cfra Research upgraded ING Groep from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

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.