ING Group (NYSE:ING) Hits New 12-Month High - Here's Why

Key Points

• ING Group reached a new 52-week high, trading at $25.89, with an average rating of "Moderate Buy" from analysts following multiple upgrades from firms like Barclays and Morgan Stanley.
• The company reported earnings of $0.64 EPS for the quarter, exceeding expectations, and had a revenue of $6.55 billion against a consensus estimate of $6.40 billion.
• ING Group announced a semi-annual dividend of $0.4002 per share, yielding 450.0%, while the company's dividend payout ratio stands at 31.80%.

ING Group, N.V. (NYSE:ING - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $25.89 and last traded at $25.78, with a volume of 236438 shares traded. The stock had previously closed at $25.43.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ING shares. Barclays upgraded ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. Morgan Stanley upgraded ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

ING Group Trading Up 1.9%

The business has a fifty day moving average price of $24.14 and a 200 day moving average price of $21.69. The company has a market capitalization of $81.56 billion, a PE ratio of 11.94, a P/E/G ratio of 1.83 and a beta of 1.10. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12.

ING Group (NYSE:ING - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.59 by $0.05. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. Analysts expect that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a dividend of $0.4002 per share. This represents a dividend yield of 450.0%. The ex-dividend date was Monday, August 11th. ING Group's dividend payout ratio (DPR) is presently 31.80%.

Institutional Investors Weigh In On ING Group

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE raised its holdings in shares of ING Group by 7.3% during the 2nd quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider's stock valued at $191,681,000 after buying an additional 593,424 shares during the period. Goldman Sachs Group Inc. grew its stake in ING Group by 2.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,894,501 shares of the financial services provider's stock valued at $154,653,000 after purchasing an additional 185,506 shares in the last quarter. Northern Trust Corp grew its stake in ING Group by 4.4% during the 1st quarter. Northern Trust Corp now owns 4,342,916 shares of the financial services provider's stock valued at $85,078,000 after purchasing an additional 181,800 shares in the last quarter. Natixis Advisors LLC grew its stake in ING Group by 25.7% during the 1st quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider's stock valued at $83,274,000 after purchasing an additional 869,281 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in ING Group by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,908,396 shares of the financial services provider's stock valued at $41,737,000 after purchasing an additional 48,023 shares in the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Group Company Profile

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.

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