JPMorgan Chase & Co. Decreases Position in ING Group, N.V. $ING

JPMorgan Chase & Co. trimmed its holdings in shares of ING Group, N.V. (NYSE:ING) by 5.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,243,033 shares of the financial services provider’s stock after selling 71,672 shares during the period. JPMorgan Chase & Co.’s holdings in ING Group were worth $32,418,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its stake in shares of ING Group by 7.3% during the second quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock worth $191,681,000 after acquiring an additional 593,424 shares during the last quarter. Envestnet Asset Management Inc. grew its position in ING Group by 4.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,990,736 shares of the financial services provider’s stock worth $51,918,000 after purchasing an additional 82,340 shares during the last quarter. American Century Companies Inc. increased its stake in ING Group by 10.4% during the 2nd quarter. American Century Companies Inc. now owns 1,408,301 shares of the financial services provider’s stock valued at $30,800,000 after purchasing an additional 132,184 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of ING Group by 2.9% in the second quarter. Raymond James Financial Inc. now owns 983,608 shares of the financial services provider’s stock worth $21,511,000 after buying an additional 27,545 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in shares of ING Group by 10.8% during the second quarter. Quantinno Capital Management LP now owns 974,637 shares of the financial services provider’s stock valued at $21,315,000 after buying an additional 95,304 shares during the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wall Street Zen upgraded ING Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Jefferies Financial Group began coverage on shares of ING Group in a report on Tuesday, January 27th. They set a “hold” rating for the company. Keefe, Bruyette & Woods lowered shares of ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Zacks Research raised ING Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy”.

ING Group Stock Down 2.6%

ING stock opened at $28.75 on Friday. ING Group, N.V. has a one year low of $16.47 and a one year high of $31.17. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s fifty day moving average is $29.05 and its 200 day moving average is $26.58. The firm has a market cap of $83.66 billion, a PE ratio of 12.03, a P/E/G ratio of 0.96 and a beta of 0.80.

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, topping the consensus estimate of $0.50 by $0.06. ING Group had a net margin of 27.50% and a return on equity of 12.26%. The business had revenue of $4.61 billion for the quarter, compared to analyst estimates of $6.67 billion. On average, research analysts forecast that ING Group, N.V. will post 2.14 EPS for the current year.

ING Group Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be issued a $0.8796 dividend. This represents a yield of 589.0%. The ex-dividend date of this dividend is Friday, April 17th. ING Group’s dividend payout ratio (DPR) is presently 28.87%.

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.