ING Group (NYSE:ING) Shares Pass Above 200 Day Moving Average - Here's Why

Key Points

• ING Group shares moved above their 200-day moving average, reaching $35.09 compared with the $30.22 long-term average, and last traded near $35.03.
• Analysts maintain a generally positive outlook, with one Strong Buy, three Buy and four Hold ratings producing a “Moderate Buy” consensus.
• ING reported quarterly EPS of $0.79, exceeding estimates of $0.75, while revenue of $4.76 billion fell short of the $6.99 billion consensus forecast.

Shares of ING Group, N.V. (NYSE:ING - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.22 and traded as high as $35.09. ING Group shares last traded at $35.0340, with a volume of 1,530,187 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Zacks Research upgraded ING Group from a "strong sell" rating to a "hold" rating in a research note on Monday, July 27th. Weiss Ratings cut ING Group from a "buy (a-)" rating to a "buy (b-)" rating in a research note on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

ING Group Stock Up 0.6%

The stock's 50-day moving average price is $33.29 and its two-hundred day moving average price is $30.22. The company has a current ratio of 1.10, a quick ratio of 1.11 and a debt-to-equity ratio of 2.99. The stock has a market capitalization of $100.20 billion, a P/E ratio of 13.07, a P/E/G ratio of 0.91 and a beta of 0.84.

ING Group (NYSE:ING - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.04. ING Group had a net margin of 28.15% and a return on equity of 12.59%. The company had revenue of $4.76 billion for the quarter, compared to analysts' expectations of $6.99 billion. As a group, research analysts expect that ING Group, N.V. will post 2.82 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The company also recently announced a dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were paid a $0.458 dividend. The ex-dividend date was Monday, August 10th. This represents a dividend yield of 260.0%. ING Group's payout ratio is presently 29.10%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Kintra Wealth LLC purchased a new stake in ING Group in the 2nd quarter worth about $208,000. HB Wealth Management LLC lifted its holdings in ING Group by 11.5% during the second quarter. HB Wealth Management LLC now owns 34,212 shares of the financial services provider's stock valued at $1,074,000 after purchasing an additional 3,522 shares during the last quarter. Angeles Wealth Management LLC purchased a new stake in ING Group during the second quarter valued at about $245,000. Concurrent Investment Advisors LLC boosted its position in ING Group by 25.6% during the second quarter. Concurrent Investment Advisors LLC now owns 23,603 shares of the financial services provider's stock worth $741,000 after purchasing an additional 4,805 shares during the period. Finally, Greenspring Advisors LLC boosted its position in ING Group by 3.1% during the second quarter. Greenspring Advisors LLC now owns 11,216 shares of the financial services provider's stock worth $352,000 after purchasing an additional 339 shares during the period. Hedge funds and other institutional investors own 4.49% of the company's stock.

About ING Group

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING's principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.

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