Guardian Partners Inc. Sells 14,070 Shares of ING Group, N.V. $ING

Key Points

• Guardian Partners Inc. has reduced its stake in ING Group by 1.9%, now owning 729,274 shares valued at approximately $14.3 million.
• Several institutional investors, including Jane Street Group LLC, have significantly increased their holdings in ING Group, indicating renewed interest in the company.
• Both Barclays and Morgan Stanley recently upgraded ING Group's stock rating from "equal weight" to "overweight," reflecting positive sentiment among analysts.

Guardian Partners Inc. decreased its stake in ING Group, N.V. (NYSE:ING - Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 729,274 shares of the financial services provider's stock after selling 14,070 shares during the quarter. ING Group accounts for about 1.5% of Guardian Partners Inc.'s portfolio, making the stock its 20th largest position. Guardian Partners Inc.'s holdings in ING Group were worth $14,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ING. Jane Street Group LLC lifted its stake in ING Group by 333.0% in the fourth quarter. Jane Street Group LLC now owns 193,060 shares of the financial services provider's stock valued at $3,025,000 after buying an additional 148,476 shares during the period. Balyasny Asset Management L.P. lifted its stake in ING Group by 27.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 44,955 shares of the financial services provider's stock valued at $704,000 after buying an additional 9,630 shares during the period. Cetera Investment Advisers lifted its stake in ING Group by 8.6% in the fourth quarter. Cetera Investment Advisers now owns 132,692 shares of the financial services provider's stock valued at $2,079,000 after buying an additional 10,471 shares during the period. Cubist Systematic Strategies LLC acquired a new position in ING Group in the fourth quarter valued at about $1,808,000. Finally, EP Wealth Advisors LLC acquired a new stake in shares of ING Group during the fourth quarter worth about $164,000. Institutional investors and hedge funds own 4.49% of the company's stock.

ING Group Stock Up 1.0%

Shares of NYSE ING traded up $0.25 during mid-day trading on Friday, reaching $25.37. 1,795,967 shares of the company's stock were exchanged, compared to its average volume of 2,800,041. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83. The firm has a market capitalization of $79.85 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.81 and a beta of 1.10. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $25.43. The business has a fifty day simple moving average of $23.82 and a 200 day simple moving average of $21.39.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.05. The business had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. As a group, equities analysts expect that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a dividend of $0.4002 per share. The ex-dividend date was Monday, August 11th. This represents a dividend yield of 450.0%. ING Group's dividend payout ratio (DPR) is presently 31.34%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Morgan Stanley raised ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, September 2nd. Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

ING Group Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.