Cetera Investment Advisers Reduces Holdings in ING Group, N.V. (NYSE:ING)

Cetera Investment Advisers lowered its position in shares of ING Group, N.V. (NYSE:ING - Free Report) by 9.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 120,579 shares of the financial services provider's stock after selling 12,113 shares during the period. Cetera Investment Advisers' holdings in ING Group were worth $2,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Legacy Advisors LLC purchased a new position in ING Group during the first quarter worth about $28,000. SBI Securities Co. Ltd. lifted its holdings in shares of ING Group by 135.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock worth $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 4th quarter worth approximately $41,000. Olde Wealth Management LLC acquired a new stake in ING Group in the 1st quarter valued at approximately $55,000. Finally, Hexagon Capital Partners LLC raised its position in ING Group by 21.4% in the first quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock valued at $100,000 after purchasing an additional 897 shares during the period. Hedge funds and other institutional investors own 4.49% of the company's stock.

Wall Street Analysts Forecast Growth

ING has been the subject of several research analyst reports. Barclays upgraded ING Group from an "equal weight" rating to an "overweight" rating in a research report 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy".

ING Group Price Performance

ING Group stock opened at $23.95 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83. ING Group, N.V. has a 52-week low of $15.09 and a 52-week high of $24.01. The firm has a market cap of $75.36 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.14. The company's 50 day moving average is $22.17 and its two-hundred day moving average is $19.99.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.05. The business had revenue of $6.55 billion for 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%. On average, research analysts expect that ING Group, N.V. will post 2.14 EPS for the current fiscal 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 paid a $0.4002 dividend. This represents a dividend yield of 450.0%. The ex-dividend date is Monday, August 11th. ING Group's dividend payout ratio (DPR) is presently 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.

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