Todd Asset Management LLC Has $53.98 Million Stock Position in ING Group, N.V. (NYSE:ING)

Key Points

• Todd Asset Management LLC reduced its stake in ING Group, N.V. by 0.6%, holding 2,755,212 shares worth approximately $53.98 million now.
• ING Group reported $0.64 EPS for the last quarter, surpassing analysts' expectations of $0.59, with a revenue of $6.55 billion.
• The company declared a semi-annual dividend of $0.4002 per share, with a dividend yield of 450.0% for stockholders of record by August 11th.

Todd Asset Management LLC decreased its stake in shares of ING Group, N.V. (NYSE:ING - Free Report) by 0.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,755,212 shares of the financial services provider's stock after selling 16,729 shares during the period. ING Group accounts for about 1.3% of Todd Asset Management LLC's portfolio, making the stock its 19th largest holding. Todd Asset Management LLC owned 0.08% of ING Group worth $53,975,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of ING. Bank of Montreal Can boosted its holdings in ING Group by 6.3% in the 4th quarter. Bank of Montreal Can now owns 487,778 shares of the financial services provider's stock valued at $7,643,000 after purchasing an additional 28,837 shares during the period. Invesco Ltd. boosted its holdings in ING Group by 40.8% in the 4th quarter. Invesco Ltd. now owns 39,915 shares of the financial services provider's stock valued at $625,000 after purchasing an additional 11,558 shares during the period. Raymond James Financial Inc. bought a new stake in ING Group in the 4th quarter valued at about $14,375,000. Sterling Capital Management LLC boosted its holdings in ING Group by 27.1% in the 4th quarter. Sterling Capital Management LLC now owns 33,367 shares of the financial services provider's stock valued at $523,000 after purchasing an additional 7,108 shares during the period. Finally, Rockefeller Capital Management L.P. boosted its holdings in ING Group by 10.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 152,153 shares of the financial services provider's stock valued at $2,385,000 after purchasing an additional 13,773 shares during the period. Institutional investors own 4.49% of the company's stock.

ING Group Price Performance

Shares of NYSE ING traded up $0.33 during trading hours on Tuesday, hitting $24.46. 2,113,518 shares of the stock were exchanged, compared to its average volume of 2,776,754. 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 has a market cap of $76.99 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. The company's fifty day simple moving average is $22.36 and its two-hundred day simple moving average is $20.18. ING Group, N.V. has a 1-year low of $15.09 and a 1-year high of $24.47.

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 (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.05. The business had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. On average, sell-side analysts predict that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be given a dividend of $0.4002 per share. The ex-dividend date is Monday, August 11th. This represents a dividend yield of 450.0%. ING Group's dividend payout ratio (DPR) is currently 31.34%.

Analyst Upgrades and Downgrades

ING has been the subject of a number of recent research reports. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Barclays raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock 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.