ING Group, N.V. $ING Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC lowered its holdings in ING Group, N.V. (NYSE:ING) by 7.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,977 shares of the financial services provider’s stock after selling 1,439 shares during the period. Checchi Capital Advisers LLC’s holdings in ING Group were worth $415,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ING. Allspring Global Investments Holdings LLC increased its holdings in ING Group by 68.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,475 shares of the financial services provider’s stock valued at $931,000 after purchasing an additional 19,332 shares in the last quarter. Penserra Capital Management LLC acquired a new stake in shares of ING Group in the first quarter valued at about $126,000. FORA Capital LLC acquired a new stake in shares of ING Group in the first quarter valued at about $302,000. PNC Financial Services Group Inc. raised its holdings in shares of ING Group by 14.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 104,056 shares of the financial services provider’s stock valued at $2,038,000 after buying an additional 13,304 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new position in ING Group during the 1st quarter worth approximately $274,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Group Price Performance

Shares of NYSE ING opened at $25.34 on Tuesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83. The company has a market capitalization of $79.75 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.85 and a beta of 1.07. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $26.27. The business has a 50 day simple moving average of $24.68 and a 200-day simple moving average of $22.09.

ING Group (NYSE:ING) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The firm had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. As a group, equities research analysts expect 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 paid a dividend of $0.4002 per share. The ex-dividend date was Monday, August 11th. This represents a yield of 450.0%. ING Group’s dividend payout ratio is 31.80%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ING Group in a research note on Saturday, September 27th. Morgan Stanley raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Cfra Research raised ING Group from a “hold” rating to a “moderate buy” rating in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, ING Group currently has an average rating of “Buy”.

ING Group Profile

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.