ING US off 3% following downgrade

ING US (VOYA -3.1%) slips as JPMorgan downgrades from Neutral to Sell.

Stock has had a big run - up nearly 50% since being spun off from forced seller ING at the start of May.

Q2 earnings reported last week beat market expectations.

BTIG's Mark Palmer reiterated his Neutral rating - noting the better-than-expected performance, but believing the share price has caught up the company's value. The stock trades at about 0.8x book value, excluding AOCI.

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