Cibc World Market Inc. Has $12.71 Million Position in ING Group, N.V. $ING

Cibc World Market Inc. cut its stake in shares of ING Group, N.V. (NYSE:ING) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 453,769 shares of the financial services provider’s stock after selling 37,392 shares during the quarter. Cibc World Market Inc.’s holdings in ING Group were worth $12,706,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sivia Capital Partners LLC lifted its holdings in ING Group by 52.5% during the 4th quarter. Sivia Capital Partners LLC now owns 25,693 shares of the financial services provider’s stock worth $719,000 after buying an additional 8,841 shares during the period. Greenspring Advisors LLC bought a new position in shares of ING Group in the 4th quarter worth about $300,000. Goldman Sachs Group Inc. raised its position in shares of ING Group by 2.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,804,829 shares of the financial services provider’s stock worth $218,535,000 after acquiring an additional 191,101 shares in the last quarter. Dynasty Wealth Management LLC raised its position in shares of ING Group by 5.8% in the 4th quarter. Dynasty Wealth Management LLC now owns 31,606 shares of the financial services provider’s stock worth $885,000 after acquiring an additional 1,729 shares in the last quarter. Finally, a16z Perennial Management L.P. bought a new position in shares of ING Group in the 4th quarter worth about $209,000. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Group Stock Performance

Shares of ING Group stock opened at $29.69 on Friday. ING Group, N.V. has a one year low of $20.39 and a one year high of $31.40. The firm has a market capitalization of $86.42 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 0.99 and a beta of 0.84. The business has a 50-day simple moving average of $28.90 and a 200 day simple moving average of $28.17. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.11 and a quick ratio of 1.11.

ING Group (NYSE:ING) last posted its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The business had revenue of $616.97 million for the quarter, compared to the consensus estimate of $6.86 billion. ING Group had a return on equity of 12.27% and a net margin of 27.68%. On average, research analysts anticipate that ING Group, N.V. will post 2.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

ING has been the subject of several research analyst reports. Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. Zacks Research lowered ING Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Wall Street Zen lowered ING Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research report on Friday, May 29th. Finally, Keefe, Bruyette & Woods raised ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

ING Group Company 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.