ING Group, N.V. $ING Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC reduced its shares in ING Group, N.V. by 16.0%, leaving it with 809,092 shares valued at approximately $15.85 million by the end of the first quarter.
• ING reported a quarterly earnings per share of $0.64, surpassing analysts' expectations of $0.59, and generated revenue of $6.55 billion for the same period.
• Recently, ING Group announced a semi-annual dividend of $0.4002, with a dividend yield of 450.0%, illustrating a payout ratio of 31.80%.

HighTower Advisors LLC lessened its position in ING Group, N.V. (NYSE:ING - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 809,092 shares of the financial services provider's stock after selling 154,214 shares during the quarter. HighTower Advisors LLC's holdings in ING Group were worth $15,850,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ING. Legacy Advisors LLC purchased a new position in shares of ING Group in the first quarter valued at approximately $28,000. SBI Securities Co. Ltd. lifted its position 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 valued at $31,000 after acquiring an additional 912 shares in the last quarter. Redwood Investments LLC purchased a new position in shares of ING Group in the fourth quarter valued at approximately $41,000. Olde Wealth Management LLC purchased a new position in ING Group during the first quarter worth approximately $55,000. Finally, Hexagon Capital Partners LLC lifted its position in ING Group by 21.4% during the first quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock worth $100,000 after buying an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ING. Barclays upgraded ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. Cfra Research upgraded ING Group from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 6th. One 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. Based on data from MarketBeat.com, ING Group presently has an average rating of "Moderate Buy".

ING Group Trading Up 0.5%

ING stock traded up $0.1150 during midday trading on Friday, hitting $24.9650. 771,217 shares of the company's stock were exchanged, compared to its average volume of 2,755,735. ING Group, N.V. has a 1-year low of $15.09 and a 1-year high of $25.11. 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 business has a 50-day simple moving average of $22.87 and a two-hundred day simple moving average of $20.55. The stock has a market capitalization of $78.57 billion, a PE ratio of 11.51, a P/E/G ratio of 1.78 and a beta of 1.14.

ING Group (NYSE:ING - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates 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. On average, sell-side analysts predict that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

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

About ING Group

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.