ING Groep NV (NYSE:ING)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $11.85, but opened at $11.54. ING Groep shares last traded at $11.31, with a volume of 3674388 shares trading hands.
Several equities analysts have recently issued reports on ING shares. Zacks Investment Research raised shares of ING Groep from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. ValuEngine downgraded shares of ING Groep from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Finally, Royal Bank of Canada raised shares of ING Groep from a “sector perform” rating to an “outperform” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. ING Groep presently has an average rating of “Buy” and an average price target of $14.00.
The firm has a market capitalization of $43.78 billion, a price-to-earnings ratio of 6.85 and a beta of 1.23. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.40.
The business also recently disclosed a semiannual dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were issued a $0.4974 dividend. This represents a yield of 8.31%. The ex-dividend date was Thursday, April 25th. ING Groep’s payout ratio is currently 48.78%.
A number of hedge funds have recently bought and sold shares of ING. Wellington Management Group LLP lifted its holdings in ING Groep by 21.4% in the first quarter. Wellington Management Group LLP now owns 11,933,462 shares of the financial services provider’s stock worth $144,872,000 after purchasing an additional 2,102,475 shares during the period. JPMorgan Chase & Co. lifted its holdings in ING Groep by 360.4% in the first quarter. JPMorgan Chase & Co. now owns 2,388,171 shares of the financial services provider’s stock worth $28,993,000 after purchasing an additional 1,869,498 shares during the period. Deutsche Bank AG lifted its holdings in ING Groep by 577.2% in the fourth quarter. Deutsche Bank AG now owns 1,834,364 shares of the financial services provider’s stock worth $19,554,000 after purchasing an additional 1,563,502 shares during the period. Thornburg Investment Management Inc. acquired a new stake in ING Groep in the first quarter worth about $13,248,000. Finally, Morgan Stanley lifted its holdings in ING Groep by 7.8% in the first quarter. Morgan Stanley now owns 9,909,213 shares of the financial services provider’s stock worth $120,297,000 after purchasing an additional 716,665 shares during the period. 3.46% of the stock is owned by institutional investors and hedge funds.
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About ING Groep (NYSE:ING)
ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.
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