ING Group, N.V. (NYSE:ING) Shares Sold by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC reduced its stake in ING Group by 28.1% during Q1, selling 22,447 shares and now holds 57,457 shares worth approximately $1.13 million.
• Analysts have given ING Group a consensus rating of Moderate Buy, with Barclays raising its rating from "equal weight" to "overweight."
• The company reported earnings per share of $0.64 for the last quarter, exceeding expectations, and has declared a semi-annual dividend of $0.4002 per share.

Townsquare Capital LLC cut its stake in ING Group, N.V. (NYSE:ING - Free Report) by 28.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,457 shares of the financial services provider's stock after selling 22,447 shares during the period. Townsquare Capital LLC's holdings in ING Group were worth $1,126,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ING. Invesco Ltd. increased its position in ING Group by 40.8% in the fourth quarter. Invesco Ltd. now owns 39,915 shares of the financial services provider's stock worth $625,000 after buying an additional 11,558 shares during the period. Raymond James Financial Inc. acquired a new stake in ING Group in the 4th quarter valued at approximately $14,375,000. Sterling Capital Management LLC increased its position in ING Group by 27.1% in the 4th quarter. Sterling Capital Management LLC now owns 33,367 shares of the financial services provider's stock valued at $523,000 after acquiring an additional 7,108 shares during the period. Rockefeller Capital Management L.P. increased its position in ING Group by 10.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 152,153 shares of the financial services provider's stock valued at $2,385,000 after acquiring an additional 13,773 shares during the period. Finally, Sagespring Wealth Partners LLC acquired a new stake in ING Group in the 4th quarter valued at approximately $228,000. 4.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. 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. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ING Group currently has a consensus rating of "Moderate Buy".

ING Group Stock Up 0.8%

Shares of ING stock opened at $24.97 on Friday. ING Group, N.V. has a 1 year low of $15.09 and a 1 year high of $24.98. The stock has a market cap of $78.57 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.78 and a beta of 1.14. The business's fifty day moving average is $22.51 and its 200-day moving average is $20.26. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12.

ING Group (NYSE:ING - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (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 company had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.40 billion. Equities analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The company also recently declared 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 dividend payout ratio (DPR) is 31.80%.

ING Group Company 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.

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