Invesco Ltd. Has $723,000 Stake in ING Group, N.V. $ING

Invesco Ltd. lowered its stake in shares of ING Group, N.V. (NYSE:ING) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,884 shares of the financial services provider’s stock after selling 3,031 shares during the period. Invesco Ltd.’s holdings in ING Group were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Natixis Advisors LLC raised its holdings in shares of ING Group by 25.7% during the first quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider’s stock valued at $83,274,000 after purchasing an additional 869,281 shares during the period. Northern Trust Corp increased its position in shares of ING Group by 48.2% during the fourth quarter. Northern Trust Corp now owns 4,161,116 shares of the financial services provider’s stock worth $65,205,000 after acquiring an additional 1,353,054 shares in the last quarter. Royal Bank of Canada increased its position in shares of ING Group by 0.8% during the fourth quarter. Royal Bank of Canada now owns 3,946,653 shares of the financial services provider’s stock worth $61,844,000 after acquiring an additional 31,963 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of ING Group by 0.3% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,780,630 shares of the financial services provider’s stock worth $34,882,000 after acquiring an additional 6,200 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of ING Group by 671.8% during the fourth quarter. Millennium Management LLC now owns 560,313 shares of the financial services provider’s stock worth $8,780,000 after acquiring an additional 487,716 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Group Trading Up 0.4%

Shares of ING stock opened at $24.06 on Thursday. The company has a 50 day moving average of $23.47 and a 200-day moving average of $21.01. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $25.11. The firm has a market cap of $75.71 billion, a P/E ratio of 11.09, a PEG ratio of 1.71 and a beta of 1.10.

ING Group (NYSE:ING) last issued 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. ING Group had a net margin of 27.28% and a return on equity of 11.62%. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.40 billion. Sell-side analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a $0.4002 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a yield of 450.0%. ING Group’s dividend payout ratio (DPR) is 31.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Morgan Stanley raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday. Barclays raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus 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.