Financial Sector Update for 02/06/2019: ING,UNM,MKL

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Top Financial Stocks

JPM -0.07%

BAC -0.21%

WFC +0.08%

C +0.16%

USB -0.05%

Financial stocks were declining in afternoon trading, including a nearly 0.4% slide for the NYSE Financial Index while shares of financial companies in the S&P 500 were falling over 0.1%. The Philadelphia Housing Index was falling more than 0.8%.

Among financial stocks moving on news:

(+) ING Groep ( ING ) was nearly 6% higher on Wednesday after the Dutch financial services gian t report ed normalized Q4 net income of EUR0.32 per share, up from EUR0.26 during the final three months of 2017 and topping the mean estimate of EUR0.29 per share compiled by Capital IQ. Total revenue increased to EUR4.50 billion from EUR4.37 billion, also exceeding the EUR4.44 billion analyst estimate.

In other sector news:

(+) Unum Group ( UNM ) climbed 6% after the insurance company forecast 4% to 7% growth in its adjusted FY19 after-tax operating income compared with the prior-year period when it earned $5.20 per share. That translates into a range of $5.41 to $5.56 per share. The mean estimate compiled by Capital IQ is for $5.48 per share for FY19.

(-) Markel Corp ( MKL ) dropped more than 4% on Wednesday after reporting a Q4 net loss of $53.88 per share in Q4, reversing its $30.39 per share profit during the year-ago period. Net written premiums rose to $1.06 billion from $920 million last year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Banking and loans
Referenced Symbols: ING , UNM , MKL

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