ING Group, N.V. (NYSE:ING) Short Interest Update

Key Points

• In August, short interest in ING Group, N.V. decreased by 21.4%, totaling 4,560,000 shares with a short-interest ratio of 1.7 days.
• Institutional investors have shown increased interest, with holdings reaching 4.49% of the stock, and several firms acquiring stakes valued between $28,000 and $48,000.
• Analysts have upgraded ING Group's stock rating to "overweight" from "equal weight," with an average rating of "Moderate Buy."

ING Group, N.V. (NYSE:ING - Get Free Report) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totaling 4,560,000 shares, a drop of 21.4% from the August 15th total of 5,800,000 shares. Based on an average daily volume of 2,690,000 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.2% of the company's shares are sold short. Approximately 0.2% of the company's shares are sold short. Based on an average daily volume of 2,690,000 shares, the days-to-cover ratio is currently 1.7 days.

ING Group Trading Up 0.1%

Shares of ING Group stock traded up $0.02 on Monday, reaching $25.44. 1,641,592 shares of the company's stock were exchanged, compared to its average volume of 2,560,294. The company has a market capitalization of $80.06 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 1.83 and a beta of 1.10. ING Group has a 52 week low of $15.09 and a 52 week high of $25.81. The firm's 50-day moving average is $24.14 and its two-hundred day moving average is $21.69. 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 results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.05. The firm had revenue of $6.55 billion for the quarter, compared to analysts' expectations of $6.40 billion. ING Group had a return on equity of 11.62% and a net margin of 27.28%. Sell-side analysts predict that ING Group will post 2.14 EPS for the current fiscal year.

ING Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Monday, August 25th. Shareholders 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 is presently 31.80%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays raised ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Morgan Stanley raised ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

Hedge Funds Weigh In On ING Group

Institutional investors and hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD acquired a new position in shares of ING Group during the first quarter worth approximately $36,062,000. Millennium Management LLC raised its position in shares of ING Group by 197.6% during the first quarter. Millennium Management LLC now owns 1,667,239 shares of the financial services provider's stock worth $32,661,000 after purchasing an additional 1,106,926 shares during the period. Natixis Advisors LLC raised its position in shares of ING Group by 25.7% during the first quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider's stock worth $83,274,000 after purchasing an additional 869,281 shares during the period. Bank of America Corp DE raised its position in shares of ING Group by 7.3% during the second quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider's stock worth $191,681,000 after purchasing an additional 593,424 shares during the period. Finally, National Bank of Canada FI raised its position in shares of ING Group by 1,434.0% during the first quarter. National Bank of Canada FI now owns 405,101 shares of the financial services provider's stock worth $7,932,000 after purchasing an additional 378,693 shares during the period. 4.49% of the stock is currently 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.