ING Group, N.V. (NYSE:ING) Shares Sold 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 trimmed its position in ING Group, N.V. (NYSE:ING - Free Report) by 49.8% during the first quarter, according to the company in 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 makes up about 1.2% of ABC Arbitrage SA's holdings, making the stock its 18th biggest position. ABC Arbitrage SA's holdings in ING Group were worth $6,354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ING. Franklin Resources Inc. grew its position in ING Group by 88.3% in the 4th quarter. Franklin Resources Inc. now owns 290,796 shares of the financial services provider's stock valued at $4,557,000 after buying an additional 136,342 shares during the last quarter. National Bank of Canada FI grew its stake in shares of ING Group by 15.3% during the 4th quarter. National Bank of Canada FI now owns 26,408 shares of the financial services provider's stock worth $414,000 after purchasing an additional 3,508 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of ING Group by 147.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 331,182 shares of the financial services provider's stock worth $5,190,000 after purchasing an additional 197,509 shares during the period. Grantham Mayo Van Otterloo & Co. LLC acquired a new position in shares of ING Group during the 4th quarter worth $554,000. Finally, Bank of Montreal Can grew its stake in shares of ING Group by 6.3% during the 4th quarter. Bank of Montreal Can now owns 487,778 shares of the financial services provider's stock worth $7,643,000 after purchasing an additional 28,837 shares during the period. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ING shares. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. Three research 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. Based on data from MarketBeat, ING Group presently has an average rating of "Moderate Buy".

ING Group Trading Up 2.0%

NYSE:ING traded up $0.49 on Friday, reaching $24.43. The stock had a trading volume of 2,141,466 shares, compared to its average volume of 2,763,763. The company has a market cap of $76.89 billion, a price-to-earnings ratio of 11.26, 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 current ratio of 1.12 and a quick ratio of 1.12. The firm's fifty day moving average is $22.23 and its two-hundred day moving average is $20.05. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $24.46.

ING Group (NYSE:ING - Get Free Report) last released its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) 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 analyst estimates of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. Equities analysts expect that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

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

ING Group Company 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.