Ethic Inc. Sells 49,150 Shares of ING Group, N.V. $ING

Key Points

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Ethic Inc. reduced its position in ING Group, N.V. (NYSE:ING - Free Report) by 27.0% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 132,717 shares of the financial services provider's stock after selling 49,150 shares during the quarter. Ethic Inc.'s holdings in ING Group were worth $2,604,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Natixis Advisors LLC grew 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 valued at $83,274,000 after acquiring an additional 869,281 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of ING Group by 48.2% during the 4th 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 period. Royal Bank of Canada grew 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 valued at $61,844,000 after acquiring an additional 31,963 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in ING Group by 0.3% in the first 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, Raymond James Financial Inc. purchased a new position in ING Group in the fourth quarter valued at approximately $14,375,000. 4.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ING has been the topic of a number of analyst reports. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

ING Group Stock Up 0.2%

NYSE:ING traded up $0.0380 on Friday, hitting $24.8880. 1,980,462 shares of the company's stock traded hands, compared to its average volume of 2,763,222. 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 1 year low of $15.09 and a 1 year high of $25.11. The firm has a 50-day moving average price of $22.87 and a 200-day moving average price of $20.55. The company has a market cap of $78.33 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 1.78 and a beta of 1.14.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05. ING Group had a return on equity of 11.62% and a net margin of 27.28%.The business had revenue of $6.55 billion during the quarter, compared to analysts' expectations of $6.40 billion. Equities analysts anticipate that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be given a dividend of $0.4002 per share. The ex-dividend date is Monday, August 11th. This represents a dividend yield of 450.0%. ING Group's payout ratio is currently 31.80%.

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.