Cambiar Investors LLC Sells 36,790 Shares of ING Group, N.V. $ING

Cambiar Investors LLC reduced its stake in ING Group, N.V. (NYSE:ING) by 3.6% during the 3rd quarter, Holdings Channel reports. The firm owned 976,631 shares of the financial services provider’s stock after selling 36,790 shares during the period. Cambiar Investors LLC’s holdings in ING Group were worth $25,471,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Bank of America Corp DE increased its stake 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 valued at $191,681,000 after acquiring an additional 593,424 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of ING Group by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,908,396 shares of the financial services provider’s stock valued at $41,737,000 after buying an additional 48,023 shares during the period. American Century Companies Inc. increased its position in shares of ING Group by 10.4% in the 2nd quarter. American Century Companies Inc. now owns 1,408,301 shares of the financial services provider’s stock valued at $30,800,000 after buying an additional 132,184 shares in the last quarter. JPMorgan Chase & Co. raised 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 worth $28,753,000 after buying an additional 264,858 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in ING Group by 2.9% during the second quarter. Raymond James Financial Inc. now owns 983,608 shares of the financial services provider’s stock worth $21,511,000 after acquiring an additional 27,545 shares in the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ING has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a report on Monday, December 29th. Citigroup upgraded ING Group to a “strong-buy” rating in a research report on Friday, November 21st. Jefferies Financial Group assumed coverage on shares of ING Group in a report on Tuesday. They set a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods cut shares of ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy”.

ING Group Trading Up 3.5%

ING Group stock opened at $30.05 on Wednesday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a 50-day moving average of $27.57 and a 200-day moving average of $25.60. The company has a market cap of $87.44 billion, a price-to-earnings ratio of 13.53, a P/E/G ratio of 1.43 and a beta of 0.82. ING Group, N.V. has a one year low of $16.04 and a one year high of $30.10.

ING Group (NYSE:ING) last issued its quarterly earnings results 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 firm had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $5.35 billion. ING Group had a return on equity of 11.57% and a net margin of 26.94%. On average, equities analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Announces Dividend

The company also recently announced an annual dividend, which was paid on Friday, January 23rd. Investors of record on Thursday, January 8th were paid a $0.2009 dividend. The ex-dividend date of this dividend was Thursday, January 8th. This represents a dividend yield of 71.0%. ING Group’s dividend payout ratio (DPR) is currently 31.08%.

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.