ING Group (NYSE:ING) Reaches New 1-Year High - Here's What Happened

Key Points

• Shares of ING Group reached a new 52-week high at $24.47, with a significant trading volume of over 2.1 million shares.
• Barclays upgraded ING's stock rating from "equal weight" to "overweight," contributing to a current average rating of "Moderate Buy" with several analysts recommending a hold or buy.
• The company reported a quarterly EPS of $0.64, surpassing estimates, and declared a semi-annual dividend of $0.4002 per share, reflecting a payout ratio of 31.34%.

Shares of ING Group, N.V. (NYSE:ING - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.47 and last traded at $24.46, with a volume of 2113518 shares trading hands. The stock had previously closed at $24.13.

Analyst Upgrades and Downgrades

ING has been the subject of several research analyst reports. Barclays raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy".

ING Group Stock Up 1.4%

The firm has a market capitalization of $76.99 billion, a P/E ratio of 11.27, a PEG ratio of 1.73 and a beta of 1.14. The firm's 50-day moving average is $22.36 and its 200 day moving average is $20.18. 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 posted its quarterly earnings data 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 analysts' expectations of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. As a group, equities research analysts predict that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 11th will be given a dividend of $0.4002 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a yield of 450.0%. ING Group's payout ratio is 31.34%.

Institutional Investors Weigh In On ING Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legacy Advisors LLC bought a new stake in ING Group during the 1st quarter worth about $28,000. SBI Securities Co. Ltd. lifted its position in ING Group by 135.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock worth $31,000 after buying an additional 912 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in ING Group during the 2nd quarter worth about $37,000. Maseco LLP bought a new stake in ING Group during the 2nd quarter worth about $48,000. Finally, Redwood Investments LLC bought a new stake in ING Group during the 4th quarter worth about $41,000. 4.49% of the stock is owned by institutional investors.

About ING Group

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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