Synovus Financial Corp Decreases Stock Holdings in ING Group, N.V. $ING

Synovus Financial Corp trimmed its position in shares of ING Group, N.V. (NYSE:ING) by 10.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 182,060 shares of the financial services provider’s stock after selling 21,276 shares during the period. Synovus Financial Corp’s holdings in ING Group were worth $4,748,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. ABC Arbitrage SA increased its holdings in ING Group by 280.3% during the 3rd quarter. ABC Arbitrage SA now owns 900,936 shares of the financial services provider’s stock valued at $23,496,000 after purchasing an additional 664,063 shares during the period. Bank of America Corp DE grew its position in shares of ING Group by 7.3% in the 2nd quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock worth $191,681,000 after buying an additional 593,424 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of ING Group by 25.2% during the second quarter. JPMorgan Chase & Co. now owns 1,314,705 shares of the financial services provider’s stock valued at $28,753,000 after buying an additional 264,858 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of ING Group by 64.7% during the second 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 in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of ING Group by 324.0% during the second quarter. Acadian Asset Management LLC now owns 220,108 shares of the financial services provider’s stock valued at $4,813,000 after acquiring an additional 168,199 shares in the last quarter. 4.49% of the stock is owned by institutional investors.

ING Group Price Performance

Shares of NYSE ING opened at $29.42 on Friday. The company has a 50 day simple moving average of $28.83 and a two-hundred day simple moving average of $26.35. ING Group, N.V. has a fifty-two week low of $16.47 and a fifty-two week high of $31.17. The company has a market capitalization of $85.62 billion, a price-to-earnings ratio of 12.31, a P/E/G ratio of 0.95 and a beta of 0.80. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.11 and a current ratio of 1.11.

ING Group (NYSE:ING) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.06. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $6.67 billion. ING Group had a return on equity of 12.26% and a net margin of 27.50%. Analysts expect that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 17th will be paid a $0.8796 dividend. The ex-dividend date is Friday, April 17th. This represents a yield of 589.0%. ING Group’s payout ratio is presently 28.87%.

Analyst Ratings Changes

A number of research analysts have issued reports on ING shares. Zacks Research raised shares of ING Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Wall Street Zen upgraded shares of ING Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a report on Monday, December 29th. Jefferies Financial Group assumed coverage on ING Group in a report on Tuesday, January 27th. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods cut ING Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy”.

About ING Group

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.