ING Groep (NYSE:ING) Sets New 1-Year High – Here’s What Happened

ING Groep (NYSE:ING) reached a new 52-week high during trading on Monday . The company traded as high as $21.45 and last traded at $21.41, with a volume of 312667 shares changing hands. The stock had previously closed at $21.17.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ING shares. Cfra Research upgraded ING Groep from a “moderate sell” rating to a “hold” rating in a report on Tuesday, May 6th. The Goldman Sachs Group upgraded ING Groep from a “neutral” rating to a “buy” rating in a report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

ING Groep Price Performance

The stock has a market capitalization of $75.02 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 6.42 and a beta of 1.15. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The company has a fifty day simple moving average of $19.44 and a two-hundred day simple moving average of $17.46.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). ING Groep had a net margin of 28.30% and a return on equity of 11.81%. The business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $5.74 billion. As a group, equities research analysts expect that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, May 9th. Investors of record on Friday, April 25th were given a dividend of $0.6526 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a yield of 5.1%. This is a positive change from ING Groep’s previous semi-annual dividend of $0.17. ING Groep’s payout ratio is currently 64.45%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Kestra Private Wealth Services LLC lifted its holdings in ING Groep 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 buying an additional 530 shares during the period. Huntington National Bank lifted its holdings in ING Groep by 1.7% during the 4th quarter. Huntington National Bank now owns 35,030 shares of the financial services provider’s stock worth $549,000 after buying an additional 597 shares during the period. IFP Advisors Inc lifted its holdings in ING Groep by 25.1% during the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock worth $48,000 after buying an additional 621 shares during the period. SRS Capital Advisors Inc. lifted its stake in shares of ING Groep by 20.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider’s stock valued at $62,000 after purchasing an additional 665 shares during the period. Finally, Wedmont Private Capital lifted its stake in shares of ING Groep by 6.5% in the 1st quarter. Wedmont Private Capital now owns 11,415 shares of the financial services provider’s stock valued at $208,000 after purchasing an additional 693 shares during the period. 4.49% of the stock is owned by institutional investors and hedge funds.

About ING Groep

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.