Keybank National Association OH decreased its position in shares of ING Groep (NYSE:ING – Get Rating) by 13.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,934 shares of the financial services provider's stock after selling 4,269 shares during the quarter. Keybank National Association OH's holdings in ING Groep were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Synovus Financial Corp boosted its holdings in ING Groep by 5.0% in the third quarter. Synovus Financial Corp now owns 86,403 shares of the financial services provider's stock worth $732,000 after purchasing an additional 4,125 shares during the last quarter. Veriti Management LLC boosted its holdings in ING Groep by 85.6% in the third quarter. Veriti Management LLC now owns 141,090 shares of the financial services provider's stock worth $1,199,000 after purchasing an additional 65,068 shares during the last quarter. Truist Financial Corp boosted its holdings in ING Groep by 6.5% in the third quarter. Truist Financial Corp now owns 271,727 shares of the financial services provider's stock worth $2,310,000 after purchasing an additional 16,682 shares during the last quarter. Wipfli Financial Advisors LLC purchased a new stake in ING Groep in the third quarter worth approximately $277,000. Finally, Fifth Third Bancorp boosted its holdings in ING Groep by 69.3% in the third quarter. Fifth Third Bancorp now owns 80,676 shares of the financial services provider's stock worth $686,000 after purchasing an additional 33,031 shares during the last quarter. Hedge funds and other institutional investors own 3.99% of the company's stock.
Get ING Groep alerts:ING Groep Price Performance
Shares of ING stock opened at $13.70 on Friday. The company has a market capitalization of $53.44 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.60 and a beta of 1.57. ING Groep has a one year low of $8.14 and a one year high of $15.97. The company's fifty day moving average price is $12.09 and its 200-day moving average price is $10.29.
ING Groep (NYSE:ING – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The financial services provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.06). The firm had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.30 billion. ING Groep had a net margin of 19.14% and a return on equity of 6.29%. Equities research analysts expect that ING Groep will post 0.99 earnings per share for the current fiscal year.ING Groep Cuts Dividend
The business also recently declared a Semi-Annual dividend, which will be paid on Monday, January 23rd. Shareholders of record on Tuesday, January 17th will be issued a $0.074 dividend. The ex-dividend date is Friday, January 13th. This represents a yield of 4.6%. ING Groep's dividend payout ratio is currently 28.71%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of ING Groep from €15.00 ($16.13) to €16.00 ($17.20) in a report on Wednesday, November 9th. Societe Generale decreased their price target on shares of ING Groep from €14.00 ($15.05) to €12.50 ($13.44) in a research report on Friday, November 4th. Credit Suisse Group increased their price target on shares of ING Groep from €13.50 ($14.52) to €14.00 ($15.05) and gave the stock an "outperform" rating in a research report on Friday, September 30th. StockNews.com initiated coverage on shares of ING Groep in a research report on Wednesday, October 12th. They issued a "hold" rating on the stock. Finally, Morgan Stanley increased their price target on shares of ING Groep from €14.00 ($15.05) to €16.00 ($17.20) and gave the stock an "overweight" rating in a research report on Friday, November 18th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, ING Groep currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.91.
ING Groep Company Profile
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ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.
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