Hennion & Walsh Asset Management Inc. Purchases 36,657 Shares of ING Groep (NYSE:ING)

Hennion & Walsh Asset Management Inc. grew its position in ING Groep (NYSE:ING) by 31.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 154,894 shares of the financial services provider’s stock after buying an additional 36,657 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in ING Groep were worth $2,427,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ING. Park Avenue Securities LLC boosted its position in ING Groep by 24.5% during the 4th quarter. Park Avenue Securities LLC now owns 32,703 shares of the financial services provider’s stock worth $512,000 after acquiring an additional 6,427 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of ING Groep in the fourth quarter worth $45,000. Confluence Investment Management LLC boosted its holdings in ING Groep by 1.7% during the fourth quarter. Confluence Investment Management LLC now owns 48,238 shares of the financial services provider’s stock worth $756,000 after purchasing an additional 790 shares during the last quarter. Logan Capital Management Inc. grew its position in ING Groep by 4.2% in the third quarter. Logan Capital Management Inc. now owns 192,859 shares of the financial services provider’s stock valued at $3,502,000 after purchasing an additional 7,772 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in ING Groep in the 3rd quarter valued at $257,000. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Groep Stock Down 0.9 %

Shares of ING stock opened at $16.30 on Friday. ING Groep has a 52-week low of $12.77 and a 52-week high of $18.72. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $57.03 billion, a price-to-earnings ratio of 7.31, a PEG ratio of 5.80 and a beta of 1.47. The firm’s 50-day moving average is $15.63 and its 200-day moving average is $16.95.

ING Groep Cuts Dividend

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

Wall Street Analysts Forecast Growth

ING has been the subject of a number of recent research reports. Morgan Stanley downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 26th. Citigroup upgraded ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, Barclays cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, October 22nd.

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.