Janney Montgomery Scott LLC Cuts Holdings in ING Group, N.V. $ING

Janney Montgomery Scott LLC decreased its holdings in ING Group, N.V. (NYSE:ING) by 66.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MidFirst Bank purchased a new stake in shares of ING Group during the fourth quarter valued at $25,000. YANKCOM Partnership lifted its stake in ING Group by 197.2% during the 4th quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 629 shares during the period. Binnacle Investments Inc lifted its stake in ING Group by 57.0% during the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 395 shares during the period. Transamerica Financial Advisors LLC boosted its holdings in shares of ING Group by 359.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 871 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in shares of ING Group by 129.1% during the 4th quarter. Sound Income Strategies LLC now owns 1,283 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 723 shares during the last quarter. 4.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

ING Group Trading Up 1.7%

ING Group stock opened at $33.31 on Thursday. ING Group, N.V. has a 52-week low of $22.40 and a 52-week high of $33.36. The company has a market cap of $96.93 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.05 and a beta of 0.85. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.73. The business has a 50-day simple moving average of $30.89 and a two-hundred day simple moving average of $29.13.

ING Group (NYSE:ING) last posted its quarterly earnings data 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. The company had revenue of $616.97 million for the quarter, compared to the consensus estimate of $6.86 billion. ING Group had a net margin of 27.68% and a return on equity of 12.27%. Analysts predict that ING Group, N.V. will post 2.77 EPS for the current year.

ING Group 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.