QRG Capital Management Inc. Decreases Stake in ING Group, N.V. $ING

Key Points

• QRG Capital Management Inc. reduced its stake in ING Group, N.V. by 9.6% during the second quarter, bringing its total holdings to approximately $5.45 million.
• ING Group recently reported improved quarterly earnings, posting $0.64 earnings per share, exceeding the consensus estimate of $0.59.
• The company declared a semi-annual dividend of $0.4002, resulting in a yield of 450.0%, while also noting a dividend payout ratio of 31.80%.

QRG Capital Management Inc. reduced its stake in ING Group, N.V. (NYSE:ING - Free Report) by 9.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 249,208 shares of the financial services provider's stock after selling 26,547 shares during the period. QRG Capital Management Inc.'s holdings in ING Group were worth $5,450,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Legacy Advisors LLC purchased a new position in shares of ING Group during the first quarter valued at approximately $28,000. SBI Securities Co. Ltd. increased its stake in shares of 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 valued at $31,000 after buying an additional 912 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of ING Group during the second quarter valued at approximately $37,000. Maseco LLP purchased a new position in shares of ING Group during the second quarter valued at approximately $48,000. Finally, Olde Wealth Management LLC purchased a new position in shares of ING Group during the first quarter valued at approximately $55,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Group Trading Down 0.1%

ING Group stock opened at $25.79 on Monday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83. The business's fifty day simple moving average is $24.64 and its two-hundred day simple moving average is $22.05. ING Group, N.V. has a 12 month low of $15.09 and a 12 month high of $26.27. The company has a market capitalization of $81.16 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07.

ING Group (NYSE:ING - Get Free Report) last posted 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. 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 analysts' expectations of $6.40 billion. As a group, equities analysts predict that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were given 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 presently 31.80%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley upgraded ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, September 2nd. Cfra Research upgraded ING Group from a "hold" rating to a "moderate buy" rating in a research report on Thursday, September 25th. Weiss Ratings restated a "buy (b-)" rating on shares of ING Group in a research report on Saturday, September 27th. Finally, Barclays upgraded ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, ING Group currently has a consensus rating of "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.

Want to see what other hedge funds are holding ING? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ING Group, N.V. (NYSE:ING - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.