TD Waterhouse Canada Inc. Lowers Stake in ING Group, N.V. $ING

TD Waterhouse Canada Inc. cut its stake in ING Group, N.V. (NYSE:ING) by 10.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 385,973 shares of the financial services provider’s stock after selling 43,833 shares during the period. TD Waterhouse Canada Inc.’s holdings in ING Group were worth $12,157,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Amundi bought a new stake in ING Group during the 1st quarter valued at about $760,000. AQR Capital Management LLC boosted its position in ING Group by 27.0% in the 1st quarter. AQR Capital Management LLC now owns 87,240 shares of the financial services provider’s stock valued at $1,709,000 after buying an additional 18,562 shares during the period. Integrated Wealth Concepts LLC grew its stake in ING Group by 5.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 21,329 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 1,094 shares in the last quarter. Sivia Capital Partners LLC grew its stake in ING Group by 19.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 16,823 shares of the financial services provider’s stock worth $368,000 after acquiring an additional 2,745 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of ING Group by 28.9% during the second quarter. Invesco Ltd. now owns 47,534 shares of the financial services provider’s stock worth $1,040,000 after acquiring an additional 10,650 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ING shares. Morgan Stanley raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Wednesday. Zacks Research raised ING Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Weiss Ratings downgraded ING Group from a “buy (a-)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

ING Group Trading Up 0.2%

NYSE:ING opened at $37.18 on Friday. The firm has a 50-day simple moving average of $34.11 and a 200-day simple moving average of $30.59. ING Group, N.V. has a one year low of $23.63 and a one year high of $37.29. The firm has a market cap of $106.34 billion, a P/E ratio of 13.87, a P/E/G ratio of 0.97 and a beta of 0.84. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.11 and a current ratio of 1.10.

ING Group (NYSE:ING) last announced its earnings results on Thursday, July 30th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.04. ING Group had a return on equity of 12.59% and a net margin of 28.15%.The business had revenue of $4.76 billion for the quarter, compared to analysts’ expectations of $6.99 billion. Equities analysts anticipate that ING Group, N.V. will post 2.82 EPS for the current fiscal year.

ING Group Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were paid a dividend of $0.458 per share. This represents a dividend yield of 260.0%. The ex-dividend date was Monday, August 10th. ING Group’s dividend payout ratio is 29.10%.

ING Group Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.