ING Group (NYSE:ING) Reaches New 12-Month High - What's Next?

Key Points

• ING Group's share price recently reached a new 12-month high of $26.08 during trading, with current trading at $26.05.
• Analysts have upgraded ING Group's stock ratings, with several firms, including Morgan Stanley and Barclays, raising it to "overweight."
• The company reported quarterly earnings of $0.64 per share, exceeding estimates, and announced a semi-annual dividend of $0.4002, reflecting a 450.0% yield.

ING Group, N.V. (NYSE:ING - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The company traded as high as $26.08 and last traded at $26.05, with a volume of 84479 shares changing hands. The stock had previously closed at $25.96.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ING shares. Morgan Stanley raised ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, September 2nd. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday, July 15th. Finally, Cfra Research raised shares of ING Group from a "hold" rating to a "moderate buy" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy".

ING Group Stock Performance

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83. The stock's fifty day simple moving average is $24.39 and its 200 day simple moving average is $21.85. The company has a market cap of $81.69 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 1.87 and a beta of 1.10.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.05. ING Group had a return on equity of 11.62% and a net margin of 27.28%.The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.40 billion. As a group, analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current year.

ING Group Cuts Dividend

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

Institutional Investors Weigh In On ING Group

A number of hedge funds have recently modified their holdings of the company. Legacy Advisors LLC purchased a new position in ING Group during the first quarter worth about $28,000. SBI Securities Co. Ltd. grew its stake in shares of ING Group by 135.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock valued at $31,000 after buying an additional 912 shares during the period. Rexford Capital Inc. acquired a new stake in shares of ING Group during the 2nd quarter worth approximately $33,000. V Square Quantitative Management LLC purchased a new stake in shares of ING Group during the 2nd quarter valued at approximately $37,000. Finally, Maseco LLP acquired a new position in ING Group in the second quarter valued at approximately $48,000. Hedge funds and other institutional investors own 4.49% of the company's stock.

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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