Causeway Capital Management LLC Sells 31,041 Shares of ING Group, N.V. $ING

Key Points

• Causeway Capital Management LLC reduced its stake in ING Group, N.V. by 2.1%, selling 31,041 shares and now holding 1,460,526 shares worth approximately $28.6 million.
• ING Group reported earnings of $0.64 EPS, surpassing analyst expectations of $0.59, with revenues reaching $6.55 billion for the last quarter.
• The company has recently cut its dividend, paying out $0.4002 per share with a yield of 450.0%, indicating a payout ratio of 31.34%.

Causeway Capital Management LLC decreased its position in shares of ING Group, N.V. (NYSE:ING - Free Report) by 2.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,460,526 shares of the financial services provider's stock after selling 31,041 shares during the period. Causeway Capital Management LLC's holdings in ING Group were worth $28,612,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Legacy Advisors LLC bought a new position in shares of ING Group during the 1st quarter valued at about $28,000. SBI Securities Co. Ltd. grew its position in ING Group by 135.3% during the first quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 912 shares during the last quarter. Redwood Investments LLC purchased a new position in shares of ING Group during the fourth quarter worth approximately $41,000. Olde Wealth Management LLC bought a new stake in shares of ING Group in the 1st quarter worth approximately $55,000. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of ING Group by 21.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock worth $100,000 after acquiring an additional 897 shares during the last quarter. Institutional investors own 4.49% of the company's stock.

ING Group Price Performance

ING stock opened at $24.46 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83. The stock has a market capitalization of $76.99 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 1.79 and a beta of 1.14. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $25.11. The firm's 50-day moving average price is $23.02 and its two-hundred day moving average price is $20.72.

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 (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 the consensus estimate of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. As a group, equities analysts predict 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 was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were given a dividend of $0.4002 per share. This represents a yield of 450.0%. The ex-dividend date of this dividend was Monday, August 11th. ING Group's payout ratio is presently 31.34%.

Wall Street Analyst Weigh In

Several research firms recently commented 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 ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, ING Group presently 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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