JPMorgan Chase & Co. Trims Stock Holdings in ING Group, N.V. $ING

JPMorgan Chase & Co. lowered its holdings in shares of ING Group, N.V. (NYSE:ING) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,243,033 shares of the financial services provider’s stock after selling 71,672 shares during the quarter. JPMorgan Chase & Co.’s holdings in ING Group were worth $32,418,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ING. Hardy Reed LLC lifted its position in shares of ING Group by 6.6% during the third quarter. Hardy Reed LLC now owns 11,138 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 688 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in ING Group by 3.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 115,071 shares of the financial services provider’s stock worth $3,001,000 after buying an additional 3,789 shares during the period. HighTower Advisors LLC lifted its holdings in ING Group by 2.3% during the 3rd quarter. HighTower Advisors LLC now owns 846,670 shares of the financial services provider’s stock valued at $22,081,000 after buying an additional 18,751 shares in the last quarter. Naviter Wealth LLC boosted its position in ING Group by 2.8% in the 3rd quarter. Naviter Wealth LLC now owns 80,080 shares of the financial services provider’s stock valued at $2,088,000 after buying an additional 2,200 shares during the period. Finally, Assetmark Inc. grew its stake in ING Group by 31.6% in the 3rd quarter. Assetmark Inc. now owns 56,347 shares of the financial services provider’s stock worth $1,470,000 after acquiring an additional 13,531 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

ING Group Trading Down 2.6%

Shares of NYSE ING opened at $28.75 on Friday. ING Group, N.V. has a 1-year low of $16.47 and a 1-year high of $31.17. The business has a fifty day moving average price of $29.05 and a 200 day moving average price of $26.58. The stock has a market capitalization of $83.66 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 0.96 and a beta of 0.80. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 1.11.

ING Group (NYSE:ING) last posted its earnings results on Thursday, January 29th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $6.67 billion. ING Group had a return on equity of 12.26% and a net margin of 27.50%. Equities research analysts expect that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 17th will be paid a dividend of $0.8796 per share. This represents a dividend yield of 589.0%. The ex-dividend date is Friday, April 17th. ING Group’s payout ratio is 28.87%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ING shares. Zacks Research raised shares of ING Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Wall Street Zen raised ING Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft upgraded ING Group from a “hold” rating to a “buy” rating in a research note on Monday, February 2nd. Finally, Keefe, Bruyette & Woods lowered shares of ING Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, six have assigned 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 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.