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

New York State Common Retirement Fund lowered its holdings in ING Group, N.V. (NYSE:ING) by 17.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,940 shares of the financial services provider’s stock after selling 24,598 shares during the quarter. New York State Common Retirement Fund’s holdings in ING Group were worth $3,128,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. one8zero8 LLC acquired a new stake in ING Group during the third quarter valued at approximately $202,000. Ballentine Partners LLC boosted its stake in ING Group by 0.8% in the 3rd quarter. Ballentine Partners LLC now owns 68,046 shares of the financial services provider’s stock valued at $1,775,000 after buying an additional 542 shares in the last quarter. Valeo Financial Advisors LLC grew its position in ING Group by 5.3% in the third quarter. Valeo Financial Advisors LLC now owns 15,737 shares of the financial services provider’s stock valued at $410,000 after acquiring an additional 785 shares during the period. Belpointe Asset Management LLC acquired a new position in ING Group during the third quarter worth $219,000. Finally, Vanguard Personalized Indexing Management LLC raised its stake in ING Group by 0.6% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 197,208 shares of the financial services provider’s stock worth $5,143,000 after acquiring an additional 1,224 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ING shares. Citigroup upgraded shares of ING Group to a “strong-buy” rating in a research note on Friday, November 21st. Keefe, Bruyette & Woods cut shares of ING Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft upgraded ING Group from a “hold” rating to a “buy” rating in a research report on Monday, February 2nd. Finally, Jefferies Financial Group started coverage on ING Group in a research report on Tuesday, January 27th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy”.

ING Group Stock Up 1.7%

NYSE:ING opened at $30.07 on Friday. The company has a market cap of $87.51 billion, a price-to-earnings ratio of 12.58, a P/E/G ratio of 1.46 and a beta of 0.80. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s fifty day moving average price is $28.33 and its two-hundred day moving average price is $25.99. ING Group, N.V. has a 52-week low of $16.26 and a 52-week high of $31.17.

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

ING Group Dividend Announcement

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

ING Group 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.