Bruce G. Allen Investments LLC Has $122,000 Stake in ING Groep (NYSE:ING)

Bruce G. Allen Investments LLC cut its holdings in shares of ING Groep (NYSE:ING) by 27.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,811 shares of the financial services provider’s stock after selling 2,886 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in ING Groep were worth $122,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Natixis Advisors LLC raised its position in shares of ING Groep by 71.3% in the third quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock valued at $60,051,000 after purchasing an additional 1,376,713 shares during the period. Public Employees Retirement System of Ohio bought a new position in ING Groep in the 3rd quarter valued at about $9,924,000. Mediolanum International Funds Ltd acquired a new stake in ING Groep during the third quarter worth approximately $7,972,000. Fisher Asset Management LLC boosted its holdings in shares of ING Groep by 0.6% during the third quarter. Fisher Asset Management LLC now owns 68,451,083 shares of the financial services provider’s stock worth $1,243,072,000 after acquiring an additional 429,562 shares during the period. Finally, Benson Investment Management Company Inc. acquired a new position in shares of ING Groep in the third quarter valued at approximately $5,204,000. Institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ING shares. Morgan Stanley lowered ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th. Citigroup upgraded shares of ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th. Barclays cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th.

ING Groep Price Performance

Shares of NYSE:ING traded down $0.22 during trading on Friday, reaching $15.56. 2,232,412 shares of the company traded hands, compared to its average volume of 2,566,506. The firm has a market capitalization of $54.43 billion, a PE ratio of 6.98, a PEG ratio of 5.97 and a beta of 1.47. ING Groep has a 52 week low of $12.77 and a 52 week high of $18.72. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89. The company’s 50 day moving average is $15.70 and its two-hundred day moving average is $16.99.

ING Groep Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th will be paid a dividend of $0.1667 per share. The ex-dividend date of this dividend is Monday, January 13th. This represents a yield of 6.4%. ING Groep’s payout ratio is 12.56%.

ING Groep Company 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.