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ING Groep N.V. Message Board

  • ejhus2003 ejhus2003 Jun 20, 2011 11:35 AM Flag

    What is the stock worth?

    OK, I have tried to read all of the input by all of the experts here and I do not understand anything.
    Is there someone here who can CLEARLY tell me what I will get.
    one share of ING stock will get me what in Capital?
    Or are we going to keep the two banks seperate?

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    • I think it will take 3 to 5 years to get a breakup value in the range of $20+

      ING will hold the shares of COF and likely sell sometime in the future when market conditions are better.

      I expect 20% annual returns going forward with a downside risk of nil. Classic Graham play.

      • 1 Reply to rcaz1966
      • "ING's Divesting Strategy Will Lead to a Higher Stock Price
        by: Dutch Trader June 23, 2011 | about: ING



        ING is a Dutch global financial institution offering banking, investments, life insurance and retirement services. As of 31 March 2011, ING had a diverse workforce of about 105,000 people and served more than 85 million private, corporate and institutional clients in more than 40 countries.
        On June 16 ING announced that it has reached an agreement to sell ING Direct USA for a total consideration of USD 9.0 billion (EUR 6.3 billion at current exchange rates) to Capital One Financial Corporation (COF), a leading U.S.-based financial holding company. Under the terms of the agreement, ING will receive USD 6.2 billion in cash and USD 2.8 billion in the form of 55.9 million shares in Capital One.
        The divestment is part of ING's restructuring plan, filed with the European Commission in 2009 to obtain approval for the support ING received from the Dutch State in the context of the financial crisis.
        After this transaction, ING will focus on further building its ING Direct operations in Canada, Spain, Australia, France, Italy, Germany, the United Kingdom and Austria.
        On June 20 Het Financieele Dagblad reported that ING is looking to sell its car leasing unit in a bid to free up more capital. ING Car Lease has a fleet of around 360,000 cars making it one of the biggest players in Europe. A transaction could total EUR4 billion, as a buyer would have to take over EUR3 billion in debt and bolster the unit's capital buffer by around EUR750 million. The newspaper said potential buyers could be the car-leasing units of BMW AG, Volkswagen AG and GE Fleet Services. Other bidders may be Arval UK Ltd. and Athlon Car Lease, a unit of Dutch Rabobank Group. It seems that ING is going back to basics.
        Many divestments have taken place in the last number of years.
        February 19, 2009 ING Canada EUR1400 million
        September 25, 2009 Insurance business Australia, New Zealand EUR1100 million
        October 7, 2009 Private Banking Switzerland, EUR300 million
        October 15, 2009 Private Banking Asia, EUR1 billion
        October 16, 2009 Reinsurance U.S., not available
        November 3, 2009 Selling of three U.S. broker dealers, not available
        August 27, 2010 0%-stake in ING Summit Industrial Fund, EUR1.5 billion
        December 8, 2010 5%-stake Fuban Financial, EUR395 million
        February 15, 2011 Real estate manager REIM, EUR810 million

    • "one share of ING stock will get me what in Capital"

      You get for 1 share, currently for $11.60, cca. $2.20 Earnings Power/share, and it is supported by cca. $16 Book value.

      B.Graham would value a company like this up to
      sqrt(22.5*2.2*16)=$28

      But you also get the usual stockmarket risk, plus financial sector risk, I assume it is a little higher than longterm world average.

 
ING
13.73+0.02(+0.15%)Jul 11 4:02 PMEDT

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