ING Group, N.V. $ING Shares Bought by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its ING Group stake by 9.1% in the third quarter, adding 35,218 shares to own 421,191 shares valued at approximately $14.4 million.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $34.50; Morgan Stanley upgraded the stock to “overweight.”
• ING reported quarterly EPS of $0.79, beating estimates of $0.75, while its latest dividend fell to $0.458 per share from $0.8796.

TD Waterhouse Canada Inc. boosted its holdings in shares of ING Group, N.V. (NYSE:ING - Free Report) by 9.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 421,191 shares of the financial services provider's stock after buying an additional 35,218 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in ING Group were worth $14,416,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ING. Bank of America Corp DE lifted its position in shares of ING Group by 1.0% during the first quarter. Bank of America Corp DE now owns 6,451,137 shares of the financial services provider's stock valued at $168,052,000 after buying an additional 61,919 shares during the last quarter. Parr Mcknight Wealth Management Group LLC grew its position in shares of ING Group by 954.1% in the 1st quarter. Parr Mcknight Wealth Management Group LLC now owns 101,528 shares of the financial services provider's stock worth $2,645,000 after buying an additional 91,896 shares during the last quarter. QRG Capital Management Inc. grew its position in shares of ING Group by 15.4% in the 2nd quarter. QRG Capital Management Inc. now owns 394,253 shares of the financial services provider's stock worth $12,372,000 after buying an additional 52,524 shares during the last quarter. Gibbs Wealth Management purchased a new position in shares of ING Group in the 1st quarter worth approximately $817,000. Finally, Rockefeller Capital Management L.P. raised its stake in shares of ING Group by 12.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 190,005 shares of the financial services provider's stock worth $5,320,000 after acquiring an additional 20,923 shares in the last quarter. Institutional investors own 4.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. The Goldman Sachs Group reiterated a "buy" rating on shares of ING Group in a research note on Friday, August 7th. UBS Group reissued a "buy" rating on shares of ING Group in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of ING Group in a research note on Tuesday, August 25th. Morgan Stanley raised ING Group from an "equal weight" rating to an "overweight" rating in a research report on Wednesday, September 2nd. Finally, DZ Bank reaffirmed a "buy" rating on shares of ING Group in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $34.50.

ING Group Stock Performance

ING opened at $33.44 on Monday. ING Group, N.V. has a fifty-two week low of $23.64 and a fifty-two week high of $37.52. The company has a fifty day moving average of $35.50 and a two-hundred day moving average of $32.39. The stock has a market capitalization of $95.63 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 0.89 and a beta of 0.87.

ING Group (NYSE:ING - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.04. The company had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $6.99 billion. ING Group had a return on equity of 12.59% and a net margin of 28.15%. On average, equities research analysts forecast that ING Group, N.V. will post 2.78 earnings per share for the current year.

ING Group Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were given a dividend of $0.4580 per share. This is a negative change from ING Group's previous dividend of $0.8796. The ex-dividend date was Monday, August 10th. This represents a dividend yield of 260.0%. ING Group's payout ratio is 29.10%.

ING Group Profile

ING Groep N.V. is a Netherlands-based international banking group headquartered in Amsterdam. Through its principal banking operations, ING provides retail and commercial banking services to individuals, businesses and institutions, with a strong emphasis on digital banking and mobile financial services.

The company's products and services include current and savings accounts, consumer and residential lending, business loans, payments, investment services, and wholesale banking. Its wholesale banking operations serve corporate and institutional clients with services such as lending, transaction banking, financial markets, and corporate finance.

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