ING Group, N.V. $ING Shares Sold by WINTON GROUP Ltd

Key Points

• WINTON GROUP Ltd cut its ING Group stake by 68.8% in the second quarter, selling 94,300 shares and retaining 42,800 shares valued at approximately $1.34 million.
• ING shares opened at $37.28, near their 12-month high of $37.52, and have risen above both their 50-day and 200-day moving averages.
• ING reported quarterly EPS of $0.79, exceeding the $0.75 analyst consensus, while analysts maintain a “Moderate Buy” consensus with Morgan Stanley upgrading the stock to “overweight.”

WINTON GROUP Ltd reduced its holdings in shares of ING Group, N.V. (NYSE:ING - Free Report) by 68.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,800 shares of the financial services provider's stock after selling 94,300 shares during the quarter. WINTON GROUP Ltd's holdings in ING Group were worth $1,343,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ING. MidFirst Bank purchased a new stake in ING Group during the fourth quarter worth approximately $25,000. Evergreen Advisors LLC purchased a new position in ING Group in the first quarter valued at approximately $28,000. Binnacle Investments Inc increased its stake in ING Group by 57.0% in the third quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 395 shares during the last quarter. Transamerica Financial Advisors LLC raised its holdings in ING Group by 359.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider's stock worth $31,000 after purchasing an additional 871 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in ING Group by 418.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,431 shares of the financial services provider's stock worth $40,000 after purchasing an additional 1,155 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company's stock.

ING Group Price Performance

Shares of NYSE ING opened at $37.28 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.11 and a debt-to-equity ratio of 2.99. ING Group, N.V. has a twelve month low of $23.64 and a twelve month high of $37.52. The stock has a 50 day moving average of $34.64 and a two-hundred day moving average of $30.87. The stock has a market cap of $106.62 billion, a P/E ratio of 13.91, a P/E/G ratio of 0.97 and a beta of 0.84.

ING Group (NYSE:ING - Get Free Report) last announced its 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 business had revenue of $4.76 billion for the quarter, compared to analyst estimates of $6.99 billion. ING Group had a net margin of 28.15% and a return on equity of 12.59%. On average, research analysts forecast that ING Group, N.V. will post 2.82 earnings per share for the current year.

ING Group Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were paid a dividend of $0.458 per share. The ex-dividend date was Monday, August 10th. This represents a yield of 260.0%. ING Group's dividend payout ratio is currently 29.10%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of ING Group from a "strong sell" rating to a "hold" rating in a report on Monday, July 27th. Weiss Ratings lowered shares of ING Group from a "buy (a-)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Finally, Morgan Stanley upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

ING Group Profile

ING Group N.V. is a Dutch international banking and financial services company headquartered in Amsterdam. Through its banking operations, ING provides retail and commercial banking services, including checking and savings accounts, consumer and business lending, mortgages, payments, investment products and digital banking solutions.

The company serves individual customers, small and medium-sized businesses, large corporations and institutional clients. Its retail banking activities are concentrated primarily in Europe, while its wholesale banking business supports clients in numerous countries with corporate lending, trade finance, financial markets, cash management and other banking services.

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