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

Key Points

• NewEdge Advisors LLC reduced its stake in ING Group by 14.7%, selling 16,027 shares and holding a total of 93,173 shares worth $1,825,000 based on its latest SEC filing.
• ING Group reported earnings of $0.64 per share for the last quarter, surpassing analysts' expectations of $0.59, and achieved a revenue of $6.55 billion.
• The company recently announced a semi-annual dividend of $0.4002 per share, which represents a significant yield and a payout ratio of 31.80%.

NewEdge Advisors LLC lowered its stake in shares of ING Group, N.V. (NYSE:ING - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,173 shares of the financial services provider's stock after selling 16,027 shares during the quarter. NewEdge Advisors LLC's holdings in ING Group were worth $1,825,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its holdings in ING Group by 68.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,475 shares of the financial services provider's stock worth $931,000 after buying an additional 19,332 shares during the period. Penserra Capital Management LLC acquired a new stake in ING Group during the first quarter worth about $126,000. FORA Capital LLC acquired a new stake in ING Group during the first quarter valued at $302,000. PNC Financial Services Group Inc. grew its holdings in ING Group by 14.7% in the first quarter. PNC Financial Services Group Inc. now owns 104,056 shares of the financial services provider's stock valued at $2,038,000 after purchasing an additional 13,304 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new stake in ING Group in the 1st quarter valued at $274,000. Institutional investors and hedge funds own 4.49% of the company's stock.

ING Group Trading Down 0.4%

Shares of ING Group stock traded down $0.11 during trading hours on Wednesday, hitting $25.33. The company's stock had a trading volume of 428,798 shares, compared to its average volume of 2,760,125. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $25.81. The firm has a fifty day moving average of $23.94 and a 200-day moving average of $21.50. The stock has a market cap of $79.71 billion, a price-to-earnings ratio of 11.68, a P/E/G ratio of 1.85 and a beta of 1.10. 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 posted its earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.05. ING Group had a net margin of 27.28% and a return on equity of 11.62%. The company had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.40 billion. Research analysts forecast that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were issued a $0.4002 dividend. This represents a dividend yield of 450.0%. The ex-dividend date was Monday, August 11th. ING Group's dividend payout ratio is currently 31.80%.

Wall Street Analyst Weigh In

ING has been the topic of a number of research analyst reports. Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Morgan Stanley upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy".

ING Group 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.