Cwm LLC Sells 1,186 Shares of ING Groep (NYSE:ING)

Cwm LLC lowered its stake in shares of ING Groep (NYSE:INGGet Rating) by 19.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,040 shares of the financial services provider’s stock after selling 1,186 shares during the period. Cwm LLC’s holdings in ING Groep were worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Veriti Management LLC increased its position in ING Groep by 85.6% in the third quarter. Veriti Management LLC now owns 141,090 shares of the financial services provider’s stock worth $1,199,000 after purchasing an additional 65,068 shares during the last quarter. Truist Financial Corp increased its position in ING Groep by 6.5% in the third quarter. Truist Financial Corp now owns 271,727 shares of the financial services provider’s stock worth $2,310,000 after purchasing an additional 16,682 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in ING Groep in the third quarter worth $277,000. Fifth Third Bancorp increased its position in ING Groep by 69.3% in the third quarter. Fifth Third Bancorp now owns 80,676 shares of the financial services provider’s stock worth $686,000 after purchasing an additional 33,031 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC increased its position in ING Groep by 44.0% in the third quarter. Balasa Dinverno & Foltz LLC now owns 15,614 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 4,768 shares during the last quarter. Institutional investors own 3.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ING. Credit Suisse Group boosted their price target on shares of ING Groep from €13.50 ($14.67) to €14.00 ($15.22) and gave the stock an “outperform” rating in a research report on Friday, September 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of ING Groep from €15.00 ($16.30) to €16.00 ($17.39) in a research report on Wednesday, November 9th. StockNews.com initiated coverage on shares of ING Groep in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley boosted their price objective on shares of 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. Finally, Societe Generale cut their price objective on shares of ING Groep from €14.00 ($15.22) to €12.50 ($13.59) in a research report on Friday, November 4th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.91.

ING Groep Trading Up 1.4 %

Shares of ING opened at $13.38 on Friday. The firm has a market capitalization of $52.19 billion, a P/E ratio of 13.25, a P/E/G ratio of 0.62 and a beta of 1.57. ING Groep has a 12-month low of $8.14 and a 12-month high of $15.97. The firm has a fifty day moving average price of $12.31 and a 200-day moving average price of $10.40.

ING Groep (NYSE:INGGet Rating) last issued its earnings results on Thursday, November 3rd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The company had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.30 billion. ING Groep had a net margin of 19.14% and a return on equity of 6.29%. Analysts predict that ING Groep will post 1 earnings per share for the current year.

ING Groep Cuts Dividend

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

ING Groep Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for ING Groep (NYSE:ING)

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