Janney Montgomery Scott LLC Trims Stake in ING Group, N.V. $ING

Key Points

• Janney Montgomery Scott LLC cut its ING Group stake by 66% in the first quarter, selling 36,724 shares and leaving it with 18,921 shares valued at about $493,000.
• ING Group’s stock has been strong recently, trading near its 1-year high at $33.31, with a market cap of $96.93 billion and a P/E ratio of 13.16.
• The company beat earnings expectations on its latest quarterly report, posting EPS of $0.63 versus the $0.60 consensus, while analysts currently hold a Moderate Buy rating overall.

Janney Montgomery Scott LLC reduced its stake in ING Group, N.V. (NYSE:ING - Free Report) by 66.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,921 shares of the financial services provider's stock after selling 36,724 shares during the period. Janney Montgomery Scott LLC's holdings in ING Group were worth $493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wells Fargo & Company MN grew its holdings in shares of ING Group by 61.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,700,573 shares of the financial services provider's stock worth $75,616,000 after acquiring an additional 1,032,177 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of ING Group by 4,512.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 911,413 shares of the financial services provider's stock valued at $25,520,000 after purchasing an additional 891,652 shares during the period. Bank of America Corp DE lifted its stake in shares of ING Group by 7.3% in the 2nd quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider's stock valued at $191,681,000 after purchasing an additional 593,424 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of ING Group by 885.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 411,022 shares of the financial services provider's stock valued at $11,821,000 after purchasing an additional 369,310 shares in the last quarter. Finally, UMB Bank n.a. boosted its position in shares of ING Group by 33,683.0% during the fourth quarter. UMB Bank n.a. now owns 309,114 shares of the financial services provider's stock valued at $8,655,000 after purchasing an additional 308,199 shares in the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Group Price Performance

Shares of NYSE:ING opened at $33.31 on Thursday. ING Group, N.V. has a 1-year low of $22.40 and a 1-year high of $33.36. 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 business has a fifty day moving average price of $30.89 and a 200-day moving average price of $29.13. The company has a market capitalization of $96.93 billion, a PE ratio of 13.16, a PEG ratio of 1.05 and a beta of 0.85.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.03. ING Group had a net margin of 27.68% and a return on equity of 12.27%. The company had revenue of $616.97 million for the quarter, compared to analysts' expectations of $6.86 billion. As a group, equities analysts expect that ING Group, N.V. will post 2.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ING shares. Keefe, Bruyette & Woods upgraded ING Group from a "moderate sell" rating to a "hold" rating in a report on Thursday, March 26th. Zacks Research cut shares of ING Group from a "strong-buy" rating to a "hold" rating in a report on Monday, April 13th. Morgan Stanley reaffirmed an "equal weight" rating on shares of ING Group in a research report on Monday, March 23rd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of ING Group in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate 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.

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