Caitong International Asset Management Co. Ltd Takes $257,000 Position in ING Group, N.V. (NYSE:ING)

Key Points

• Caitong International Asset Management Co. Ltd has acquired a new stake in ING Group worth approximately $257,000, purchasing 13,116 shares in the 1st quarter.
• ING Group reported earnings of $0.64 per share for the last quarter, exceeding the consensus estimate of $0.59, with total revenue reaching $6.55 billion.
• The company announced a semi-annual dividend of $0.4002 per share, with a dividend yield of 450.0%, scheduled for payment on August 25th.

Caitong International Asset Management Co. Ltd purchased a new stake in ING Group, N.V. (NYSE:ING - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,116 shares of the financial services provider's stock, valued at approximately $257,000.

A number of other hedge funds also recently made changes to their positions in ING. Natixis Advisors LLC boosted its stake in shares of ING Group by 25.7% during the first quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider's stock valued at $83,274,000 after purchasing an additional 869,281 shares during the period. Northern Trust Corp increased its position in shares of ING Group by 48.2% during the 4th quarter. Northern Trust Corp now owns 4,161,116 shares of the financial services provider's stock valued at $65,205,000 after purchasing an additional 1,353,054 shares during the last quarter. Royal Bank of Canada grew its position in shares of ING Group by 0.8% during the 4th quarter. Royal Bank of Canada now owns 3,946,653 shares of the financial services provider's stock worth $61,844,000 after buying an additional 31,963 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of ING Group by 0.3% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 1,780,630 shares of the financial services provider's stock worth $34,882,000 after purchasing an additional 6,200 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in ING Group during the fourth quarter worth about $14,375,000. 4.49% of the stock is currently owned by institutional investors.

ING Group Trading Up 1.4%

Shares of NYSE:ING opened at $24.46 on Wednesday. ING Group, N.V. has a 52-week low of $15.09 and a 52-week high of $24.47. The company has a market capitalization of $76.99 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. The company has a 50-day simple moving average of $22.36 and a 200 day simple moving average of $20.18. 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 (NYSE:ING - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. Sell-side analysts forecast that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be given a dividend of $0.4002 per share. The ex-dividend date is Monday, August 11th. This represents a dividend yield of 450.0%. ING Group's dividend payout ratio (DPR) is 31.34%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ING shares. Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Cfra Research raised ING Group from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ING Group currently has an average rating of "Moderate Buy".

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.

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