Lincluden Management Ltd. Trims Position in ING Groep (NYSE:ING)

Lincluden Management Ltd. decreased its position in shares of ING Groep (NYSE:ING) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 311,647 shares of the financial services provider’s stock after selling 2,470 shares during the quarter. Lincluden Management Ltd.’s holdings in ING Groep were worth $4,884,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ING. Fortitude Family Office LLC acquired a new position in ING Groep in the 3rd quarter valued at about $25,000. Roxbury Financial LLC purchased a new stake in shares of ING Groep during the 4th quarter valued at approximately $25,000. Brooklyn Investment Group raised its position in shares of ING Groep by 184.8% during the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock valued at $29,000 after buying an additional 1,207 shares during the period. Versant Capital Management Inc acquired a new position in ING Groep in the fourth quarter valued at approximately $45,000. Finally, IFP Advisors Inc grew its position in ING Groep by 25.1% in the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 621 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th.

ING Groep Price Performance

Shares of ING opened at $17.17 on Tuesday. The firm has a 50-day simple moving average of $16.26 and a two-hundred day simple moving average of $16.72. The stock has a market cap of $60.05 billion, a PE ratio of 8.02, a P/E/G ratio of 6.42 and a beta of 1.46. ING Groep has a 1-year low of $13.57 and a 1-year high of $18.72. 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 (NYSE:ING) last posted its earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. As a group, analysts forecast that ING Groep will post 2.14 EPS for the current year.

ING Groep Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, January 23rd. Investors of record on Monday, January 13th were paid a dividend of $0.1667 per share. This represents a yield of 6.4%. The ex-dividend date of this dividend was Monday, January 13th. ING Groep’s payout ratio is 29.91%.

About ING Groep

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.