ING Group, N.V. $ING Stake Lessened by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its position in ING Group, N.V. (NYSE:ING) by 9.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 56,686 shares of the financial services provider’s stock after selling 5,971 shares during the quarter. Janney Montgomery Scott LLC’s holdings in ING Group were worth $1,240,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ING. Rhumbline Advisers lifted its position in shares of ING Group by 4.6% in the 1st quarter. Rhumbline Advisers now owns 77,975 shares of the financial services provider’s stock valued at $1,528,000 after acquiring an additional 3,421 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ING Group by 40.9% in the 1st quarter. GAMMA Investing LLC now owns 9,682 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 2,810 shares in the last quarter. Simon Quick Advisors LLC purchased a new stake in shares of ING Group in the 1st quarter valued at approximately $198,000. Dynamic Advisor Solutions LLC lifted its position in shares of ING Group by 16.1% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 202,349 shares of the financial services provider’s stock valued at $3,964,000 after acquiring an additional 27,986 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of ING Group by 7.9% in the 1st quarter. Ritholtz Wealth Management now owns 142,898 shares of the financial services provider’s stock valued at $2,799,000 after acquiring an additional 10,498 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ING shares. Cfra Research upgraded shares of ING Group from a “hold” rating to a “moderate buy” rating in a research report on Thursday, September 25th. Morgan Stanley upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 2nd. Barclays upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 15th. Finally, Weiss Ratings downgraded shares of ING Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy”.

ING Group Stock Down 0.1%

ING stock opened at $24.01 on Monday. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $26.27. 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 company has a market cap of $75.56 billion, a price-to-earnings ratio of 11.06, a PEG ratio of 1.72 and a beta of 1.07. The company has a 50 day moving average of $24.76 and a two-hundred day moving average of $22.20.

ING Group (NYSE:ING) last released its earnings results 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. ING Group had a net margin of 27.28% and a return on equity of 11.62%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.40 billion. On average, equities analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Stockholders 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 currently 31.80%.

About ING Group

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.