ING Group, N.V. $ING Stock Holdings Lessened by XY Capital Ltd

XY Capital Ltd lessened its stake in shares of ING Group, N.V. (NYSE:ING) by 70.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 9,519 shares of the financial services provider’s stock after selling 22,414 shares during the period. XY Capital Ltd’s holdings in ING Group were worth $299,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wells Fargo & Company MN raised its position in shares of ING Group by 61.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,700,573 shares of the financial services provider’s stock worth $75,616,000 after purchasing an additional 1,032,177 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of ING Group by 4,512.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 911,413 shares of the financial services provider’s stock valued at $25,520,000 after purchasing an additional 891,652 shares during the period. Bank of America Corp DE increased its stake in ING Group by 7.3% in the 2nd quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock worth $191,681,000 after purchasing an additional 593,424 shares in the last quarter. UMB Bank n.a. increased its stake in ING Group by 33,683.0% in the 4th quarter. UMB Bank n.a. now owns 309,114 shares of the financial services provider’s stock worth $8,655,000 after purchasing an additional 308,199 shares in the last quarter. Finally, Laird Norton Wetherby Trust Company LLC acquired a new stake in ING Group during the 4th quarter worth about $5,568,000. 4.49% of the stock is owned by institutional investors.

ING Group Stock Performance

Shares of ING Group stock opened at $37.18 on Friday. The stock has a market cap of $106.34 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 0.97 and a beta of 0.84. The business has a fifty day simple moving average of $34.11 and a 200-day simple moving average of $30.59. The company has a quick ratio of 1.11, a current ratio of 1.10 and a debt-to-equity ratio of 2.99. ING Group, N.V. has a 12 month low of $23.63 and a 12 month high of $37.29.

ING Group (NYSE:ING) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.04. The firm had revenue of $4.76 billion for the quarter, compared to analyst estimates of $6.99 billion. ING Group had a return on equity of 12.59% and a net margin of 28.15%. On average, sell-side analysts anticipate that ING Group, N.V. will post 2.82 EPS for the current fiscal year.

ING Group Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were paid a dividend of $0.458 per share. This represents a yield of 260.0%. The ex-dividend date of this dividend was Monday, August 10th. ING Group’s payout ratio is 29.10%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ING shares. Zacks Research raised shares of ING Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Morgan Stanley raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a research report on Wednesday. Finally, Weiss Ratings lowered shares of ING Group from a “buy (a-)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, ING Group presently has a consensus rating of “Moderate Buy”.

About ING Group

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.