NewEdge Advisors LLC Sells 16,027 Shares of ING Group, N.V. $ING

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

Other large investors have also recently made changes to their positions in the company. Legacy Advisors LLC bought a new stake in shares of ING Group in the 1st quarter worth approximately $28,000. SBI Securities Co. Ltd. boosted its stake in shares of ING Group by 135.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 912 shares in the last quarter. Redwood Investments LLC purchased a new stake in shares of ING Group in the 4th quarter valued at $41,000. Olde Wealth Management LLC purchased a new stake in shares of ING Group in the 1st quarter valued at $55,000. Finally, MAI Capital Management boosted its stake in shares of ING Group by 23.1% in the 1st quarter. MAI Capital Management now owns 4,190 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 785 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Group Stock Performance

NYSE:ING opened at $25.10 on Friday. The firm has a market cap of $79.00 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. ING Group, N.V. has a fifty-two week low of $15.09 and a fifty-two week high of $25.12. 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 business has a 50 day moving average price of $23.76 and a 200-day moving average price of $21.31.

ING Group (NYSE:ING - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.05. ING Group had a return on equity of 11.62% and a net margin of 27.28%.The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.40 billion. Equities research analysts predict that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Cuts Dividend

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

Wall Street Analyst Weigh In

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

About ING Group

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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