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

JPMorgan Chase & Co. reduced its position in shares of ING Group, N.V. (NYSE:ING) by 5.5% in the third quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ING. Binnacle Investments Inc increased its position in ING Group by 57.0% in the third quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 395 shares during the last quarter. Advisors Asset Management Inc. raised its stake in ING Group by 0.6% during the third quarter. Advisors Asset Management Inc. now owns 63,613 shares of the financial services provider’s stock valued at $1,659,000 after purchasing an additional 397 shares in the last quarter. AE Wealth Management LLC lifted its position in ING Group by 2.5% during the third quarter. AE Wealth Management LLC now owns 16,862 shares of the financial services provider’s stock valued at $440,000 after purchasing an additional 410 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in ING Group by 5.3% during the second quarter. Geneos Wealth Management Inc. now owns 9,429 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 476 shares during the last quarter. Finally, Parr Mcknight Wealth Management Group LLC grew its stake in shares of ING Group by 5.3% in the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 9,678 shares of the financial services provider’s stock worth $252,000 after buying an additional 485 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Group Price Performance

ING Group stock opened at $25.11 on Monday. ING Group, N.V. has a 12-month low of $16.47 and a 12-month high of $31.17. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.73. The firm has a 50-day moving average price of $28.50 and a 200-day moving average price of $26.82. The firm has a market capitalization of $73.06 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 0.82 and a beta of 0.78.

ING Group (NYSE:ING) last issued its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.50 by $0.06. ING Group had a net margin of 27.50% and a return on equity of 12.05%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $6.67 billion. As a group, equities 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 announced a dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 17th will be paid a dividend of $0.8796 per share. The ex-dividend date of this dividend is Friday, April 17th. This represents a dividend yield of 589.0%. ING Group’s dividend payout ratio is currently 28.87%.

Analyst Ratings Changes

Several brokerages have recently issued reports on ING. Deutsche Bank Aktiengesellschaft upgraded shares of ING Group from a “hold” rating to a “buy” rating in a research report on Monday, February 2nd. Zacks Research upgraded ING Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research note on Monday, December 29th. Wall Street Zen lowered ING Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Jefferies Financial Group started coverage on ING Group in a report on Tuesday, January 27th. They issued a “hold” rating for the company. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

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.