Cibc World Market Inc. Sells 37,392 Shares of ING Group, N.V. $ING

Cibc World Market Inc. decreased its holdings in ING Group, N.V. (NYSE:ING) by 7.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 453,769 shares of the financial services provider’s stock after selling 37,392 shares during the period. Cibc World Market Inc.’s holdings in ING Group were worth $12,706,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Sivia Capital Partners LLC raised its stake in ING Group by 52.5% in the fourth quarter. Sivia Capital Partners LLC now owns 25,693 shares of the financial services provider’s stock valued at $719,000 after buying an additional 8,841 shares during the period. Greenspring Advisors LLC bought a new stake in ING Group in the fourth quarter valued at approximately $300,000. Goldman Sachs Group Inc. increased its stake in shares of ING Group by 2.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,804,829 shares of the financial services provider’s stock worth $218,535,000 after purchasing an additional 191,101 shares during the period. Dynasty Wealth Management LLC increased its stake in shares of ING Group by 5.8% during the fourth quarter. Dynasty Wealth Management LLC now owns 31,606 shares of the financial services provider’s stock worth $885,000 after purchasing an additional 1,729 shares during the period. Finally, a16z Perennial Management L.P. bought a new position in shares of ING Group during the fourth quarter worth approximately $209,000. Institutional investors own 4.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ING shares. Wall Street Zen lowered ING Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Zacks Research lowered ING Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Morgan Stanley reiterated an “equal weight” rating on shares of ING Group in a research note on Monday, March 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. Finally, Keefe, Bruyette & Woods upgraded ING Group from a “moderate sell” rating to a “hold” rating in a research note on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

ING Group Trading Down 3.1%

NYSE ING opened at $29.69 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.73. ING Group, N.V. has a twelve month low of $20.39 and a twelve month high of $31.40. The company has a market cap of $86.42 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 0.99 and a beta of 0.84. The business’s fifty day moving average is $28.90 and its 200 day moving average is $28.17.

ING Group (NYSE:ING) last announced its earnings results on Friday, May 1st. The financial services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $616.97 million for the quarter, compared to the consensus estimate of $6.86 billion. ING Group had a return on equity of 12.27% and a net margin of 27.68%. As a group, sell-side analysts expect that ING Group, N.V. will post 2.77 EPS for the current fiscal year.

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.