ING Group (NYSE:ING) Downgraded to Hold Rating by Zacks Research

Zacks Research downgraded shares of ING Group (NYSE:ING) from a strong-buy rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods upgraded ING Group from a “moderate sell” rating to a “hold” rating in a research note on Thursday, March 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research note on Monday, December 29th. Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. Wall Street Zen lowered ING Group from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded ING Group from a “hold” rating to a “buy” rating in a research report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

ING Group Stock Up 0.6%

NYSE ING traded up $0.16 on Monday, hitting $29.53. 409,873 shares of the stock traded hands, compared to its average volume of 3,016,198. The stock has a 50-day moving average of $27.66 and a 200 day moving average of $27.01. ING Group has a twelve month low of $18.36 and a twelve month high of $31.17. The company has a market capitalization of $85.95 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 0.95 and a beta of 0.80. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.73.

ING Group (NYSE:ING) last announced its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.06. ING Group had a return on equity of 12.05% and a net margin of 27.50%.The firm had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.67 billion. As a group, analysts expect that ING Group will post 2.14 earnings per share for the current fiscal year.

ING Group Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 17th will be issued a $0.8796 dividend. This represents a yield of 589.0%. The ex-dividend date of this dividend is Friday, April 17th. ING Group’s dividend payout ratio is 43.10%.

Hedge Funds Weigh In On ING Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. MidFirst Bank bought a new position in ING Group in the 4th quarter worth approximately $25,000. Abound Wealth Management grew its holdings in ING Group by 2,757.6% in the 3rd quarter. Abound Wealth Management now owns 943 shares of the financial services provider’s stock worth $25,000 after buying an additional 910 shares in the last quarter. YANKCOM Partnership grew its holdings in ING Group by 197.2% in the 4th quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock worth $27,000 after buying an additional 629 shares in the last quarter. Binnacle Investments Inc grew its holdings in ING Group by 57.0% in the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock worth $28,000 after buying an additional 395 shares in the last quarter. Finally, Transamerica Financial Advisors LLC grew its holdings in ING Group by 359.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider’s stock worth $31,000 after buying an additional 871 shares in the last quarter. 4.49% of the stock is owned by institutional investors.

ING Group Company Profile

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.