TD Waterhouse Canada Inc. Sells 43,833 Shares of ING Group, N.V. $ING

Key Points

• TD Waterhouse Canada reduced its ING Group stake by 10.2%, selling 43,833 shares and retaining 385,973 shares valued at approximately $12.16 million at quarter-end.
• Other institutional investors, including AQR Capital Management, Sivia Capital Partners and Invesco, increased their positions; institutional investors collectively own 4.49% of ING Group.
• ING reported quarterly EPS of $0.79, beating estimates of $0.75, while analysts maintain a “Moderate Buy” consensus rating. Shares opened at $37.18, near their 12-month high of $37.29.

TD Waterhouse Canada Inc. lessened its holdings in ING Group, N.V. (NYSE:ING - Free Report) by 10.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 385,973 shares of the financial services provider's stock after selling 43,833 shares during the period. TD Waterhouse Canada Inc.'s holdings in ING Group were worth $12,157,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Amundi purchased a new position in shares of ING Group in the 1st quarter worth $760,000. AQR Capital Management LLC raised its position in shares of ING Group by 27.0% during the 1st quarter. AQR Capital Management LLC now owns 87,240 shares of the financial services provider's stock valued at $1,709,000 after buying an additional 18,562 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of ING Group by 5.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 21,329 shares of the financial services provider's stock valued at $418,000 after acquiring an additional 1,094 shares during the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of ING Group by 19.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 16,823 shares of the financial services provider's stock valued at $368,000 after acquiring an additional 2,745 shares during the last quarter. Finally, Invesco Ltd. grew its position in ING Group by 28.9% in the second quarter. Invesco Ltd. now owns 47,534 shares of the financial services provider's stock worth $1,040,000 after acquiring an additional 10,650 shares in the last quarter. Institutional investors own 4.49% of the company's stock.

ING Group Stock Performance

Shares of NYSE:ING opened at $37.18 on Friday. The company has a market capitalization of $106.34 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.97 and a beta of 0.84. ING Group, N.V. has a 12 month low of $23.63 and a 12 month high of $37.29. The firm's 50-day moving average is $34.11 and its 200 day moving average is $30.59. The company has a current ratio of 1.10, a quick ratio of 1.11 and a debt-to-equity ratio of 2.99.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts' consensus estimates of $0.75 by $0.04. ING Group had a net margin of 28.15% and a return on equity of 12.59%. The company had revenue of $4.76 billion for the quarter, compared to analyst estimates of $6.99 billion. Research analysts predict that ING Group, N.V. will post 2.82 EPS for the current year.

ING Group Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were issued a $0.458 dividend. This represents a dividend yield of 260.0%. The ex-dividend date was Monday, August 10th. ING Group's dividend payout ratio is presently 29.10%.

Wall Street Analysts Forecast Growth

ING has been the topic of several analyst reports. Weiss Ratings cut ING Group from a "buy (a-)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. Morgan Stanley upgraded ING Group from an "equal weight" rating to an "overweight" rating in a report on Wednesday. Finally, Zacks Research raised ING Group from a "strong sell" rating to a "hold" rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, ING Group has a consensus rating of "Moderate Buy".

ING Group Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING's principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.

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