Wells Fargo & Company MN Sells 193,537 Shares of ING Groep (NYSE:ING)

Wells Fargo & Company MN trimmed its stake in shares of ING Groep (NYSE:ING - Free Report) by 10.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,605,291 shares of the financial services provider's stock after selling 193,537 shares during the quarter. Wells Fargo & Company MN's holdings in ING Groep were worth $25,155,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in ING Groep by 18.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 212,174 shares of the financial services provider's stock valued at $3,853,000 after buying an additional 32,701 shares during the period. State Street Corp boosted its stake in ING Groep by 1.3% in the third quarter. State Street Corp now owns 358,479 shares of the financial services provider's stock valued at $6,510,000 after buying an additional 4,542 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in ING Groep by 8.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 21,913 shares of the financial services provider's stock worth $398,000 after acquiring an additional 1,782 shares in the last quarter. M&T Bank Corp boosted its stake in shares of ING Groep by 4.7% in the 3rd quarter. M&T Bank Corp now owns 34,227 shares of the financial services provider's stock valued at $622,000 after purchasing an additional 1,535 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its position in ING Groep by 20.5% in the third quarter. Coldstream Capital Management Inc. now owns 19,641 shares of the financial services provider's stock valued at $357,000 after buying an additional 3,340 shares in the last quarter. 4.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised ING Groep from a "neutral" rating to a "buy" rating in a research note on Thursday, March 27th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

ING Groep Trading Up 0.8 %

Shares of ING traded up $0.15 during mid-day trading on Thursday, reaching $18.71. 879,841 shares of the company were exchanged, compared to its average volume of 2,325,728. The business has a 50 day simple moving average of $18.56 and a two-hundred day simple moving average of $17.05. 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 capitalization of $65.43 billion, a PE ratio of 8.75, a PEG ratio of 6.42 and a beta of 1.07. ING Groep has a 52 week low of $15.09 and a 52 week high of $20.79.

ING Groep (NYSE:ING - Get Free Report) last announced its earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. On average, analysts predict that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a dividend of $0.6526 per share. This represents a dividend yield of 5.1%. The ex-dividend date is Friday, April 25th. This is a boost from ING Groep's previous semi-annual dividend of $0.17. ING Groep's dividend payout ratio is 60.75%.

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.