ING Group, N.V. (NYSE:ING) Sees Large Decrease in Short Interest

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 large drop in short interest in the month of 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 trading volume of 2,690,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.2% of the shares of the company are sold short. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 2,690,000 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ING. Barclays upgraded ING Group from an "equal weight" rating to an "overweight" rating in a report 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

ING Group Stock Up 0.5%

ING traded up $0.13 during midday trading on Friday, hitting $25.45. The company had a trading volume of 1,515,485 shares, compared to its average volume of 2,605,363. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.83. ING Group has a 52 week low of $15.09 and a 52 week high of $25.81. The company has a market capitalization of $80.10 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 1.82 and a beta of 1.10. The stock's 50 day moving average price is $24.09 and its 200 day moving average price is $21.63.

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

ING Group Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its stake in ING Group by 5.3% in the second quarter. Geneos Wealth Management Inc. now owns 9,429 shares of the financial services provider's stock worth $206,000 after purchasing an additional 476 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its position in shares of ING Group by 14.3% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 4,000 shares of the financial services provider's stock worth $87,000 after acquiring an additional 500 shares during the period. Drive Wealth Management LLC raised its position in shares of ING Group by 4.4% during the 2nd quarter. Drive Wealth Management LLC now owns 12,117 shares of the financial services provider's stock worth $265,000 after purchasing an additional 508 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in shares of ING Group by 4.4% during the 1st quarter. Kestra Private Wealth Services LLC now owns 12,705 shares of the financial services provider's stock worth $249,000 after purchasing an additional 530 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in ING Group by 3.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,309 shares of the financial services provider's stock valued at $379,000 after acquiring an additional 532 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other 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.