Cambiar Investors LLC Sells 74,748 Shares of ING Group, N.V. $ING

Key Points

• Cambiar Investors LLC has reduced its holdings in ING Group by 5.5% during the first quarter, selling 74,748 shares and bringing its total to 1,286,646 shares valued at approximately $25.2 million.
• Analysts have given ING Group an average rating of "Moderate Buy," with Barclays upgrading the company from "equal weight" to "overweight" recently.
• ING Group reported earnings per share (EPS) of $0.64 for the last quarter, surpassing expectations and boasting robust financials, including a net margin of 27.28% and revenue of $6.55 billion.

Cambiar Investors LLC lessened its stake in shares of ING Group, N.V. (NYSE:ING - Free Report) by 5.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,286,646 shares of the financial services provider's stock after selling 74,748 shares during the quarter. Cambiar Investors LLC's holdings in ING Group were worth $25,205,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Natixis Advisors LLC raised its stake in ING Group by 25.7% in the 1st quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider's stock worth $83,274,000 after purchasing an additional 869,281 shares in the last quarter. Northern Trust Corp increased its holdings in ING Group by 48.2% in 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 buying an additional 1,353,054 shares during the period. Royal Bank of Canada increased its holdings in ING Group by 0.8% in the 4th quarter. Royal Bank of Canada now owns 3,946,653 shares of the financial services provider's stock valued at $61,844,000 after buying an additional 31,963 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in ING Group by 0.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 1,780,630 shares of the financial services provider's stock valued at $34,882,000 after buying an additional 6,200 shares during the period. Finally, American Century Companies Inc. increased its holdings in ING Group by 2.9% in the 1st quarter. American Century Companies Inc. now owns 1,276,117 shares of the financial services provider's stock valued at $24,999,000 after buying an additional 35,382 shares during the period. Institutional investors and hedge funds own 4.49% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ING. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Barclays raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy".

ING Group Stock Up 0.2%

ING traded up $0.0550 during trading on Thursday, hitting $24.8650. 1,853,934 shares of the company's stock were exchanged, compared to its average volume of 2,768,195. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83. The business's 50 day moving average is $22.80 and its two-hundred day moving average is $20.49. ING Group, N.V. has a fifty-two week low of $15.09 and a fifty-two week high of $25.11. The stock has a market cap of $78.26 billion, a P/E ratio of 11.46, a PEG ratio of 1.78 and a beta of 1.14.

ING Group (NYSE:ING - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. ING Group had a net margin of 27.28% and a return on equity of 11.62%. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. As a group, equities analysts expect that ING Group, N.V. will post 2.14 earnings per share 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. Stockholders of record on Monday, August 11th will be issued a $0.4002 dividend. The ex-dividend date is Monday, August 11th. This represents a dividend yield of 450.0%. ING Group's dividend payout ratio is currently 31.80%.

About ING Group

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.