ING Groep (NYSE:ING) Hits New 12-Month High - Still a Buy?

ING Groep (NYSE:ING - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $20.81 and last traded at $20.79, with a volume of 31183 shares trading hands. The stock had previously closed at $20.49.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group upgraded ING Groep from a "neutral" rating to a "buy" rating in a research note on Thursday, March 27th. Cfra Research raised ING Groep from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy".

ING Groep Trading Up 0.4%

The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The business has a fifty day simple moving average of $19.44 and a 200 day simple moving average of $17.45. The company has a market cap of $74.07 billion, a P/E ratio of 9.89, a P/E/G ratio of 6.42 and a beta of 1.15.

ING Groep (NYSE:ING - Get Free Report) last released its earnings results on Friday, May 2nd. The financial services provider reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. The firm had revenue of $6.36 billion for the quarter, compared to the consensus estimate of $5.74 billion. Analysts anticipate that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, April 25th were issued a dividend of $0.6526 per share. This represents a yield of 5.1%. The ex-dividend date was Friday, April 25th. This is an increase from ING Groep's previous semi-annual dividend of $0.17. ING Groep's dividend payout ratio (DPR) is currently 64.45%.

Institutional Trading of ING Groep

Several hedge funds have recently made changes to their positions in the stock. Kestra Private Wealth Services LLC lifted its holdings in shares of ING Groep by 4.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 12,705 shares of the financial services provider's stock worth $249,000 after purchasing an additional 530 shares during the last quarter. Huntington National Bank lifted its holdings in shares of ING Groep by 1.7% in the 4th quarter. Huntington National Bank now owns 35,030 shares of the financial services provider's stock worth $549,000 after purchasing an additional 597 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of ING Groep by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock worth $48,000 after purchasing an additional 621 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of ING Groep by 20.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider's stock worth $62,000 after purchasing an additional 665 shares during the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of ING Groep by 6.5% in the 1st quarter. Wedmont Private Capital now owns 11,415 shares of the financial services provider's stock worth $208,000 after purchasing an additional 693 shares during the last quarter. Institutional investors own 4.49% of the company's stock.

About ING Groep

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.