QRG Capital Management Inc. Trims Stock Holdings in ING Group, N.V. $ING

QRG Capital Management Inc. lowered its position in shares of ING Group, N.V. (NYSE:ING) by 28.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 177,233 shares of the financial services provider’s stock after selling 71,975 shares during the quarter. QRG Capital Management Inc.’s holdings in ING Group were worth $4,622,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ING. Bank of America Corp DE raised its stake in shares of ING Group by 7.3% in the second quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock worth $191,681,000 after purchasing an additional 593,424 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in ING Group by 25.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,314,705 shares of the financial services provider’s stock valued at $28,753,000 after acquiring an additional 264,858 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of ING Group by 64.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 467,898 shares of the financial services provider’s stock valued at $10,233,000 after acquiring an additional 183,891 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of ING Group by 324.0% in the second quarter. Acadian Asset Management LLC now owns 220,108 shares of the financial services provider’s stock worth $4,813,000 after acquiring an additional 168,199 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of ING Group by 80.3% during the second quarter. First Trust Advisors LP now owns 332,350 shares of the financial services provider’s stock worth $7,268,000 after purchasing an additional 148,062 shares during the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Group Price Performance

Shares of ING Group stock opened at $29.04 on Monday. The firm has a market cap of $84.52 billion, a PE ratio of 13.08, a P/E/G ratio of 1.89 and a beta of 0.82. ING Group, N.V. has a twelve month low of $16.04 and a twelve month high of $29.21. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The business has a 50-day moving average price of $27.14 and a 200 day moving average price of $25.30.

ING Group (NYSE:ING) last issued its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.64 by $0.06. The company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $5.35 billion. ING Group had a return on equity of 11.57% and a net margin of 26.94%. Sell-side analysts predict that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Announces Dividend

The business also recently declared an annual dividend, which will be paid on Friday, January 23rd. Investors of record on Thursday, January 8th will be issued a $0.2009 dividend. This represents a yield of 71.0%. The ex-dividend date of this dividend is Thursday, January 8th. ING Group’s payout ratio is presently 31.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ING shares. Keefe, Bruyette & Woods lowered shares of ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Citigroup upgraded ING Group to a “strong-buy” rating in a research note on Friday, November 21st. Cfra Research raised ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy”.

ING Group Company 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.