US Bancorp DE Lowers Stock Position in ING Groep (NYSE:ING)

US Bancorp DE lessened its holdings in ING Groep (NYSE:ING – Get Rating) by 19.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,625 shares of the financial services provider’s stock after selling 26,210 shares during the quarter. US Bancorp DE’s holdings in ING Groep were worth $906,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Spire Wealth Management raised its position in shares of ING Groep by 112.5% during the 2nd quarter. Spire Wealth Management now owns 3,232 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,711 shares during the last quarter. Ronald Blue Trust Inc. purchased a new stake in shares of ING Groep during the 2nd quarter valued at $35,000. Gradient Investments LLC purchased a new stake in shares of ING Groep during the 3rd quarter valued at $30,000. SRS Capital Advisors Inc. purchased a new stake in ING Groep during the 2nd quarter worth $40,000. Finally, CWM LLC boosted its position in ING Groep by 73.7% during the 2nd quarter. CWM LLC now owns 6,226 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 2,641 shares during the period. Hedge funds and other institutional investors own 3.99% of the company’s stock.

ING Groep Price Performance

NYSE ING opened at $13.20 on Friday. The firm has a market capitalization of $51.49 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 0.62 and a beta of 1.57. The company’s fifty day moving average is $12.28 and its two-hundred day moving average is $10.38. ING Groep has a 52-week low of $8.14 and a 52-week high of $15.97.

ING Groep (NYSE:ING – Get Rating) last issued its earnings results on Thursday, November 3rd. The financial services provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). The business had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.30 billion. ING Groep had a net margin of 19.14% and a return on equity of 6.29%. As a group, sell-side analysts expect that ING Groep will post 1 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Monday, January 23rd. Shareholders of record on Tuesday, January 17th will be paid a $0.074 dividend. This represents a dividend yield of 4.6%. The ex-dividend date is Friday, January 13th. ING Groep’s dividend payout ratio is presently 14.85%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group upped their price objective on shares of ING Groep from €15.00 ($16.30) to €15.80 ($17.17) in a research report on Monday, November 7th. Royal Bank of Canada increased their price objective on shares of ING Groep from €11.75 ($12.77) to €13.00 ($14.13) and gave the stock a “sector perform” rating in a research note on Monday, November 7th. Morgan Stanley increased their price objective on shares of ING Groep from €14.00 ($15.22) to €16.00 ($17.39) and gave the stock an “overweight” rating in a research note on Friday, November 18th. Societe Generale dropped their price target on shares of ING Groep from €14.00 ($15.22) to €12.50 ($13.59) in a research note on Friday, November 4th. Finally, Credit Suisse Group raised their price objective on shares of ING Groep from €13.50 ($14.67) to €14.00 ($15.22) and gave the company an “outperform” rating in a research note on Friday, September 30th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.91.

ING Groep Profile

(Get Rating)

ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.