Channing Global Advisors LLC Sells 26,726 Shares of ING Groep (NYSE:ING)

Channing Global Advisors LLC cut its stake in ING Groep (NYSE:ING) by 56.9% in the fourth quarter, HoldingsChannel reports. The fund owned 20,278 shares of the financial services provider’s stock after selling 26,726 shares during the period. Channing Global Advisors LLC’s holdings in ING Groep were worth $305,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Aristotle Capital Management LLC raised its stake in shares of ING Groep by 0.3% during the third quarter. Aristotle Capital Management LLC now owns 7,158,995 shares of the financial services provider’s stock worth $94,356,000 after buying an additional 21,110 shares during the last quarter. FMR LLC raised its stake in shares of ING Groep by 10.2% during the third quarter. FMR LLC now owns 5,113,296 shares of the financial services provider’s stock worth $67,393,000 after buying an additional 474,505 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of ING Groep by 3.6% during the third quarter. Envestnet Asset Management Inc. now owns 2,799,350 shares of the financial services provider’s stock worth $36,895,000 after buying an additional 98,057 shares during the last quarter. Cookson Peirce & Co. Inc. raised its stake in shares of ING Groep by 11.4% during the third quarter. Cookson Peirce & Co. Inc. now owns 1,033,654 shares of the financial services provider’s stock worth $13,624,000 after buying an additional 105,648 shares during the last quarter. Finally, Natixis Advisors L.P. raised its stake in shares of ING Groep by 1.1% during the third quarter. Natixis Advisors L.P. now owns 1,027,756 shares of the financial services provider’s stock worth $13,546,000 after buying an additional 11,623 shares during the last quarter. 4.49% of the stock is owned by institutional investors.

ING Groep Trading Up 1.3 %

NYSE:ING traded up $0.20 during trading hours on Friday, hitting $15.92. The stock had a trading volume of 1,452,067 shares, compared to its average volume of 3,098,134. ING Groep has a one year low of $11.78 and a one year high of $17.18. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $59.33 billion, a price-to-earnings ratio of 7.12 and a beta of 1.58. The business’s 50 day moving average is $15.39 and its 200-day moving average is $14.37.

ING Groep (NYSE:ING) last issued its earnings results on Thursday, February 1st. The financial services provider reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). ING Groep had a net margin of 32.29% and a return on equity of 13.36%. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $6.15 billion. Sell-side analysts anticipate that ING Groep will post 1.91 EPS for the current fiscal year.

ING Groep Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, April 25th will be paid a $0.697 dividend. This represents a yield of 6.8%. The ex-dividend date of this dividend is Wednesday, April 24th. This is an increase from ING Groep’s previous Semi-Annual dividend of $0.43. ING Groep’s dividend payout ratio is presently 62.90%.

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.