ING Group, N.V. (NYSE:ING) Stock Position Decreased by ABC Arbitrage SA

Key Points

• ABC Arbitrage SA has reduced its stake in ING Group by 49.8%, now holding 324,344 shares after selling 322,019 shares in the first quarter, making it the 18th largest holding of the fund.
• ING Group's recent quarterly earnings showed an EPS of $0.64, surpassing analyst expectations of $0.59, with revenues reaching $6.55 billion.
• The company declared a semi-annual dividend of $0.4002 per share, resulting in a significant yield of 450.0% as part of their financial strategy moving forward.

ABC Arbitrage SA lowered its holdings in ING Group, N.V. (NYSE:ING - Free Report) by 49.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 324,344 shares of the financial services provider's stock after selling 322,019 shares during the period. ING Group comprises 1.2% of ABC Arbitrage SA's holdings, making the stock its 18th biggest holding. ABC Arbitrage SA's holdings in ING Group were worth $6,354,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Legacy Advisors LLC bought a new stake in ING Group during the first quarter worth approximately $28,000. SBI Securities Co. Ltd. boosted its stake in shares of ING Group by 135.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock worth $31,000 after acquiring an additional 912 shares in the last quarter. Redwood Investments LLC bought a new stake in shares of ING Group during the 4th quarter worth $41,000. Olde Wealth Management LLC acquired a new position in shares of ING Group in the 1st quarter worth $55,000. Finally, Hexagon Capital Partners LLC raised its position in shares of ING Group by 21.4% during the first quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock worth $100,000 after purchasing an additional 897 shares during the period. 4.49% of the stock is currently owned by institutional investors.

ING Group Stock Up 1.7%

NYSE:ING traded up $0.40 during trading hours on Wednesday, hitting $23.62. 2,260,679 shares of the company's stock traded hands, compared to its average volume of 2,818,452. The stock's fifty day moving average price is $22.06 and its two-hundred day moving average price is $19.91. The firm has a market cap of $74.33 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.72 and a beta of 1.14. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $23.90.

ING Group (NYSE:ING - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.05. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. On average, research analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.4002 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a dividend yield of 450.0%. ING Group's dividend payout ratio (DPR) is 62.67%.

Analyst Ratings Changes

ING has been the topic of a number of analyst reports. Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

ING Group 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.