US Bancorp DE trimmed its stake in shares of ING Groep (NYSE:ING – Get Rating) by 19.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cambiar Investors LLC lifted its position in ING Groep by 821.9% during the second quarter. Cambiar Investors LLC now owns 3,275,409 shares of the financial services provider’s stock worth $32,492,000 after purchasing an additional 2,920,134 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of ING Groep by 4,412.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,823,310 shares of the financial services provider’s stock worth $19,017,000 after buying an additional 1,782,900 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of ING Groep by 27.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 7,851,043 shares of the financial services provider’s stock worth $77,882,000 after buying an additional 1,673,262 shares in the last quarter. FMR LLC lifted its holdings in shares of ING Groep by 29.8% in the 2nd quarter. FMR LLC now owns 4,621,059 shares of the financial services provider’s stock worth $45,841,000 after purchasing an additional 1,060,586 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of ING Groep in the 1st quarter worth $9,905,000. 3.99% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their target price on ING Groep from €14.00 ($15.22) to €16.00 ($17.39) and gave the company an “overweight” rating in a research report on Friday, November 18th. Societe Generale dropped their price target on ING Groep from €14.00 ($15.22) to €12.50 ($13.59) in a research report on Friday, November 4th. Royal Bank of Canada raised their price objective on ING Groep from €11.75 ($12.77) to €13.00 ($14.13) and gave the company a “sector perform” rating in a report on Monday, November 7th. Credit Suisse Group raised their price objective on ING Groep from €13.50 ($14.67) to €14.00 ($15.22) and gave the company an “outperform” rating in a report on Friday, September 30th. Finally, StockNews.com assumed coverage on ING Groep in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, ING Groep currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.91.
ING Groep Stock Down 0.2 %
ING Groep (NYSE:ING – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). The company had revenue of $4.45 billion during the quarter, compared to the consensus estimate of $4.30 billion. ING Groep had a net margin of 19.14% and a return on equity of 6.29%. Research analysts expect that ING Groep will post 1 EPS for the current fiscal year.
ING Groep Cuts Dividend
The company also recently disclosed a Semi-Annual dividend, which will be paid on Monday, January 23rd. Shareholders of record on Tuesday, January 17th will be issued a dividend of $0.074 per share. The ex-dividend date of this dividend is Friday, January 13th. This represents a yield of 4.6%. ING Groep’s payout ratio is currently 14.85%.
ING Groep Company Profile
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.
- Get a free copy of the StockNews.com research report on ING Groep (ING)
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