Townsquare Capital LLC Lowers Stake in ING Group, N.V. $ING

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 lowered its stake in shares of ING Group, N.V. (NYSE:ING - Free Report) by 28.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Legacy Advisors LLC purchased a new stake in ING Group during the first quarter worth $28,000. SBI Securities Co. Ltd. lifted its holdings in ING Group by 135.3% during the first quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock worth $31,000 after buying an additional 912 shares during the period. Redwood Investments LLC purchased a new stake in ING Group during the fourth quarter worth $41,000. Olde Wealth Management LLC purchased a new stake in ING Group during the first quarter worth $55,000. Finally, Hexagon Capital Partners LLC increased its position in shares of 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 purchasing an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company's stock.

ING Group Stock Performance

Shares of NYSE ING traded up $0.2040 during mid-day trading on Tuesday, hitting $24.8940. The stock had a trading volume of 934,556 shares, compared to its average volume of 2,753,579. 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 50 day moving average of $22.65 and a two-hundred day moving average of $20.43. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $25.11. The firm has a market cap of $78.35 billion, a PE ratio of 11.48, a PEG ratio of 1.79 and a beta of 1.14.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. Research 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 declared a semi-annual dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 11th will be given 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 dividend payout ratio (DPR) is currently 31.80%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Cfra Research raised ING Group from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

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.