Cetera Investment Advisers Has $2.36 Million Stock Holdings in ING Group, N.V. (NYSE:ING)

Key Points

• Cetera Investment Advisers reduced its holdings in ING Group by 9.1% in Q1, now owning 120,579 shares valued at approximately $2.36 million.
• ING Group recently reported earnings of $0.64 per share, exceeding expectations, with a net margin of 27.28% and revenues of $6.55 billion for the quarter.
• The company announced a semi-annual dividend of $0.4002 per share, set to yield 450.0%, with a current payout ratio of 62.67%.

Cetera Investment Advisers trimmed its position in ING Group, N.V. (NYSE:ING - Free Report) by 9.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Legacy Advisors LLC bought a new stake in shares of ING Group in the first quarter worth about $28,000. SBI Securities Co. Ltd. increased its holdings in shares of ING Group by 135.3% in the first 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 in the last quarter. Redwood Investments LLC bought a new stake in shares of ING Group in the fourth quarter worth about $41,000. Olde Wealth Management LLC bought a new stake in shares of ING Group in the first quarter worth about $55,000. Finally, Hexagon Capital Partners LLC increased its holdings in shares of 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 worth $100,000 after acquiring an additional 897 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Group Stock Up 1.1%

Shares of NYSE ING traded up $0.28 during midday trading on Tuesday, reaching $24.41. The company's stock had a trading volume of 1,031,701 shares, compared to its average volume of 2,750,393. 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, N.V. has a fifty-two week low of $15.09 and a fifty-two week high of $24.45. The stock has a market capitalization of $76.81 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.76 and a beta of 1.14. The stock has a 50 day simple moving average of $22.29 and a 200-day simple moving average of $20.15.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.05. ING Group had a net margin of 27.28% and a return on equity of 11.62%. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. Equities research 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 declared a semi-annual dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be given a dividend of $0.4002 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a yield of 450.0%. ING Group's dividend payout ratio is 62.67%.

Analysts Set New Price Targets

Several brokerages have issued reports on ING. Barclays upgraded ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. Cfra Research upgraded ING Group from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock 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.