Royal Bank of Canada Has $73.85 Million Stake in ING Group, N.V. $ING

Key Points

• The Royal Bank of Canada reduced its stake in ING Group, N.V. by 4.5%, selling 176,719 shares, and now owns 3,769,934 shares valued at $73,854,000.
• Despite the RBC's divestment, other institutional investors such as Northern Trust Corp and Natixis Advisors LLC increased their stakes in ING during the same quarter.
• ING reported a quarterly EPS of $0.64, exceeding analysts' expectations of $0.59, alongside a revenue of $6.55 billion for the quarter.

Royal Bank of Canada decreased its stake in ING Group, N.V. (NYSE:ING - Free Report) by 4.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,769,934 shares of the financial services provider's stock after selling 176,719 shares during the quarter. Royal Bank of Canada owned approximately 0.11% of ING Group worth $73,854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legacy Advisors LLC purchased a new stake in ING Group in the 1st quarter worth approximately $28,000. SBI Securities Co. Ltd. lifted its position in 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 worth $31,000 after buying an additional 912 shares in the last quarter. Redwood Investments LLC purchased a new stake in ING Group in the 4th quarter worth approximately $41,000. Olde Wealth Management LLC purchased a new stake in ING Group in the 1st quarter worth approximately $55,000. Finally, MAI Capital Management lifted its position in ING Group by 23.1% in the 1st quarter. MAI Capital Management now owns 4,190 shares of the financial services provider's stock worth $82,000 after buying an additional 785 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ING shares. Morgan Stanley upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, September 2nd. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. One 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. Based on data from MarketBeat.com, ING Group presently has an average rating of "Moderate Buy".

ING Group Stock Down 1.0%

Shares of ING Group stock traded down $0.25 during midday trading on Friday, reaching $24.10. 2,303,064 shares of the company's stock traded hands, compared to its average volume of 2,479,604. The company has a market cap of $75.86 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. ING Group, N.V. has a 52 week low of $15.09 and a 52 week high of $25.11. 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's 50 day simple moving average is $23.57 and its 200 day simple moving average is $21.14.

ING Group (NYSE:ING - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping the consensus estimate of $0.59 by $0.05. The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. 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 announced a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a $0.4002 dividend. This represents a yield of 450.0%. The ex-dividend date was Monday, August 11th. ING Group's dividend payout ratio (DPR) is 31.34%.

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.