ING Group (NYSE:ING) Hits New 1-Year High – What’s Next?

ING Group, N.V. (NYSE:ING)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $37.29 and last traded at $37.4220, with a volume of 1341435 shares traded. The stock had previously closed at $37.18.

Analyst Ratings Changes

Several equities analysts have recently commented on ING shares. Weiss Ratings downgraded shares of ING Group from a “buy (a-)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Zacks Research upgraded shares of ING Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. Finally, Morgan Stanley upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

ING Group Stock Performance

The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.11 and a current ratio of 1.10. The stock has a market cap of $107.04 billion, a P/E ratio of 13.96, a P/E/G ratio of 0.97 and a beta of 0.84. The business’s 50-day moving average price is $34.22 and its 200-day moving average price is $30.67.

ING Group (NYSE:ING) last issued 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 return on equity of 12.59% and a net margin of 28.15%.The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $6.99 billion. As a group, sell-side analysts expect that ING Group, N.V. will post 2.82 earnings per share for the current fiscal year.

ING Group Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 10th were paid a dividend of $0.458 per share. This represents a yield of 260.0%. The ex-dividend date of this dividend was Monday, August 10th. ING Group’s dividend payout ratio (DPR) is presently 29.10%.

Institutional Trading of ING Group

Hedge funds have recently modified their holdings of the company. MidFirst Bank bought a new position in shares of ING Group during the 4th quarter valued at approximately $25,000. Evergreen Advisors LLC purchased a new stake in ING Group during the first quarter valued at $28,000. Binnacle Investments Inc lifted its position in ING Group by 57.0% during the third quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 395 shares during the last quarter. Transamerica Financial Advisors LLC grew its stake in shares of 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. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of ING Group by 418.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,431 shares of the financial services provider’s stock worth $40,000 after buying an additional 1,155 shares during the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

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.