ING Group, N.V. $ING Shares Sold by Guardian Partners Inc.

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. cut its holdings in ING Group, N.V. (NYSE:ING - Free Report) by 1.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 729,274 shares of the financial services provider's stock after selling 14,070 shares during the period. ING Group comprises about 1.5% of Guardian Partners Inc.'s holdings, making the stock its 20th largest position. Guardian Partners Inc.'s holdings in ING Group were worth $14,301,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Advisors LLC acquired a new position in ING Group in the 1st quarter valued at about $28,000. SBI Securities Co. Ltd. raised its stake in ING Group by 135.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 912 shares during the last quarter. Redwood Investments LLC acquired a new position in ING Group in the 4th quarter valued at about $41,000. Olde Wealth Management LLC acquired a new position in ING Group in the 1st quarter valued at about $55,000. Finally, MAI Capital Management raised its stake in ING Group by 23.1% in the 1st quarter. MAI Capital Management now owns 4,190 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 785 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Morgan Stanley raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, ING Group currently has a consensus rating of "Moderate Buy".

ING Group Trading Up 2.7%

Shares of ING stock traded up $0.66 during trading hours on Wednesday, hitting $24.76. 4,108,548 shares of the company were exchanged, compared to its average volume of 2,829,221. The firm has a market cap of $77.92 billion, a PE ratio of 11.41, a PEG ratio of 1.73 and a beta of 1.10. ING Group, N.V. has a 1 year low of $15.09 and a 1 year high of $25.11. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83. The firm has a fifty day moving average of $23.71 and a 200 day moving average of $21.26.

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

ING Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were given a dividend of $0.4002 per share. This represents a yield of 450.0%. The ex-dividend date of this dividend was Monday, August 11th. ING Group's dividend payout ratio is 31.80%.

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.