ING Group (NYSE:ING) Reaches New 52-Week High - What's Next?

Key Points

• ING Group's stock reached a new 52-week high of $23.99, with a trading volume of 4,045 shares, following a previous close of $23.60.
• Analysts have generally upgraded their outlook, with Barclays moving from an "equal weight" to an "overweight" rating, contributing to an average rating of "Moderate Buy."
• The company reported $0.64 earnings per share for the last quarter, exceeding the consensus estimate of $0.59, with revenue also surpassing expectations at $6.55 billion.

ING Group, N.V. (NYSE:ING - Get Free Report)'s stock price reached a new 52-week high on Thursday . The company traded as high as $23.95 and last traded at $23.99, with a volume of 4045 shares traded. The stock had previously closed at $23.60.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy".

ING Group Stock Performance

The company has a market capitalization of $75.49 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.72 and a beta of 1.14. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. The company's fifty day simple moving average is $22.11 and its two-hundred day simple moving average is $19.94.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.05. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.40 billion. ING Group had a net margin of 27.28% and a return on equity of 11.62%. Equities research analysts predict that ING Group, N.V. will post 2.14 earnings per share 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. Stockholders of record on Monday, August 11th will be issued a $0.4002 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a dividend yield of 450.0%. ING Group's payout ratio is 31.34%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Legacy Advisors LLC acquired a new position in shares of ING Group in the 1st quarter valued at about $28,000. SBI Securities Co. Ltd. lifted its position in 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 purchasing an additional 912 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in ING Group in the 2nd quarter valued at about $37,000. Maseco LLP bought a new stake in shares of ING Group during the 2nd quarter worth about $48,000. Finally, Redwood Investments LLC bought a new stake in shares of ING Group during the 4th quarter worth about $41,000. 4.49% of the stock is owned by institutional investors and hedge funds.

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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