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

JPMorgan Chase & Co. decreased its holdings in ING Group, N.V. (NYSE:ING) by 5.5% during the third quarter, according to the company in its most recent disclosure 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 period. JPMorgan Chase & Co.’s holdings in ING Group were worth $32,418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ING. Amundi purchased a new stake in shares of ING Group during the first quarter valued at $760,000. AQR Capital Management LLC increased its stake in ING Group by 27.0% in the 1st quarter. AQR Capital Management LLC now owns 87,240 shares of the financial services provider’s stock worth $1,709,000 after buying an additional 18,562 shares during the period. Integrated Wealth Concepts LLC increased its stake in ING Group by 5.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 21,329 shares of the financial services provider’s stock worth $418,000 after buying an additional 1,094 shares during the period. Sivia Capital Partners LLC lifted its holdings in ING Group by 19.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 16,823 shares of the financial services provider’s stock valued at $368,000 after buying an additional 2,745 shares in the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in ING Group by 1.6% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 61,937 shares of the financial services provider’s stock valued at $1,363,000 after buying an additional 1,005 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analysts Forecast Growth

ING has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of ING Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Deutsche Bank Aktiengesellschaft raised shares of ING Group from a “hold” rating to a “buy” rating in a research note on Monday, February 2nd. Jefferies Financial Group started coverage on ING Group in a research note on Tuesday, January 27th. They issued a “hold” rating on the stock. Zacks Research upgraded ING Group from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ING Group in a research report on Monday, December 29th. Two research 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

ING Group Stock Down 3.2%

ING Group stock opened at $25.11 on Monday. 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 $28.50 and a 200-day moving average price of $26.82. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $73.06 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 0.82 and a beta of 0.78.

ING Group (NYSE:ING) last announced 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. ING Group had a return on equity of 12.05% and a net margin of 27.50%.The company had revenue of $4.61 billion for the quarter, compared to analyst estimates of $6.67 billion. Equities research analysts forecast that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Announces Dividend

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