ING Group, N.V. $ING Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd cut its stake in shares of ING Group, N.V. (NYSE:ING) by 68.8% in the 2nd quarter, Holdings Channel reports. The fund owned 42,800 shares of the financial services provider’s stock after selling 94,300 shares during the quarter. WINTON GROUP Ltd’s holdings in ING Group were worth $1,343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ING. Bank of America Corp DE grew its stake in shares of 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 valued at $191,681,000 after purchasing an additional 593,424 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of ING Group by 2.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,804,829 shares of the financial services provider’s stock worth $218,535,000 after purchasing an additional 191,101 shares during the last quarter. Northern Trust Corp raised its stake in shares of ING Group by 1.7% during the third quarter. Northern Trust Corp now owns 4,456,398 shares of the financial services provider’s stock worth $116,223,000 after purchasing an additional 73,959 shares during the last quarter. Wells Fargo & Company MN lifted its holdings 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. Finally, Quantinno Capital Management LP lifted its holdings in shares of ING Group by 9.5% during the first quarter. Quantinno Capital Management LP now owns 1,803,670 shares of the financial services provider’s stock worth $46,986,000 after purchasing an additional 156,461 shares during the period. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Group Stock Up 1.7%

ING Group stock opened at $37.28 on Friday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.10 and a quick ratio of 1.11. ING Group, N.V. has a 1-year low of $23.64 and a 1-year high of $37.52. The company has a market cap of $106.62 billion, a PE ratio of 13.91, a price-to-earnings-growth ratio of 0.97 and a beta of 0.84. The stock’s 50 day moving average price is $34.64 and its 200 day moving average price is $30.87.

ING Group (NYSE:ING) last released its earnings results on Thursday, July 30th. The financial services provider reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. The company had revenue of $4.76 billion during the quarter, compared to the consensus estimate 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 predict that ING Group, N.V. will post 2.82 EPS for the current fiscal year.

ING Group Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were paid a $0.458 dividend. The ex-dividend date was Monday, August 10th. This represents a dividend yield of 260.0%. ING Group’s dividend payout ratio (DPR) is 29.10%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ING shares. Weiss Ratings cut shares of ING Group from a “buy (a-)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Morgan Stanley upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, September 2nd. Finally, Zacks Research raised shares of ING Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. 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. Based on data from MarketBeat.com, ING Group has a consensus rating of “Moderate Buy”.

ING Group Profile

ING Group N.V. is a Dutch international banking and financial services company headquartered in Amsterdam. Through its banking operations, ING provides retail and commercial banking services, including checking and savings accounts, consumer and business lending, mortgages, payments, investment products and digital banking solutions.

The company serves individual customers, small and medium-sized businesses, large corporations and institutional clients. Its retail banking activities are concentrated primarily in Europe, while its wholesale banking business supports clients in numerous countries with corporate lending, trade finance, financial markets, cash management and other banking services.