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 acquired a new position in shares of ING Group, N.V. (NYSE:ING - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,116 shares of the financial services provider's stock, valued at approximately $257,000.

A number of other hedge funds have also modified their holdings of ING. Natixis Advisors LLC boosted its position in 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 worth $83,274,000 after acquiring an additional 869,281 shares during the last quarter. Northern Trust Corp boosted its position in ING Group by 48.2% during the fourth quarter. Northern Trust Corp now owns 4,161,116 shares of the financial services provider's stock worth $65,205,000 after acquiring an additional 1,353,054 shares during the last quarter. Royal Bank of Canada boosted its position in ING Group by 0.8% during the fourth quarter. Royal Bank of Canada now owns 3,946,653 shares of the financial services provider's stock worth $61,844,000 after acquiring an additional 31,963 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in ING Group by 0.3% during the first 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 acquiring 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 approximately $14,375,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Group Trading Down 0.4%

Shares of ING traded down $0.09 during mid-day trading on Friday, reaching $24.87. The company had a trading volume of 2,334,625 shares, compared to its average volume of 2,812,603. The stock has a market cap of $78.28 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 1.79 and a beta of 1.14. The firm has a fifty day simple moving average of $22.58 and a 200-day simple moving average of $20.35. ING Group, N.V. has a fifty-two week low of $15.09 and a fifty-two week high of $25.11. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly 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 analyst estimates of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. On average, sell-side analysts anticipate that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be paid a $0.4002 dividend. This represents a dividend yield of 450.0%. The ex-dividend date of this dividend is Monday, August 11th. ING Group's dividend payout ratio (DPR) is currently 31.80%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ING shares. Cfra Research upgraded shares of ING Group from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ING Group presently has an average 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.