Federation des caisses Desjardins du Quebec Has $5.29 Million Position in ING Group, N.V. $ING

Key Points

• The Federation des caisses Desjardins du Quebec reduced its holdings in ING Group by 3.8%, selling 10,667 shares during the first quarter, leaving them with 269,808 shares worth approximately $5.3 million.
• ING Group reported a quarterly earnings per share of $0.64, exceeding the consensus estimate of $0.59, with revenue of $6.55 billion for the quarter.
• ING Group recently announced a semi-annual dividend of $0.4002, reflecting a dividend payout ratio of 31.80% and a yield of 450.0%.

Federation des caisses Desjardins du Quebec trimmed its holdings in shares of ING Group, N.V. (NYSE:ING - Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 269,808 shares of the financial services provider's stock after selling 10,667 shares during the period. Federation des caisses Desjardins du Quebec's holdings in ING Group were worth $5,286,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Legacy Advisors LLC bought a new position in shares of ING Group during the first quarter worth about $28,000. SBI Securities Co. Ltd. grew its position in 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 valued at $31,000 after buying an additional 912 shares in the last quarter. Redwood Investments LLC bought a new position in ING Group in the 4th quarter valued at about $41,000. Olde Wealth Management LLC bought a new position in ING Group in the 1st quarter valued at about $55,000. Finally, MAI Capital Management lifted its holdings in ING Group by 23.1% in the 1st quarter. MAI Capital Management now owns 4,190 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 785 shares during the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ING shares. Morgan Stanley raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, September 2nd. 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, three have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy".

ING Group Stock Up 3.0%

Shares of NYSE ING traded up $0.73 during mid-day trading on Wednesday, reaching $24.83. The company had a trading volume of 1,503,176 shares, compared to its average volume of 2,774,548. The stock has a fifty day moving average of $23.66 and a two-hundred day moving average of $21.24. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $78.16 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.77 and a beta of 1.10. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $25.11.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.05. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. As a group, equities research analysts expect that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a $0.4002 dividend. The ex-dividend date was Monday, August 11th. This represents a yield of 450.0%. ING Group's dividend payout ratio is currently 31.34%.

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.