ING Group (NYSE:ING) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

ING Group, N.V. (NYSE:ING) shares crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $32.16 and traded as high as $33.60. ING Group shares last traded at $33.4050, with a volume of 2,211,207 shares changing hands.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. DZ Bank reaffirmed a “buy” rating on shares of ING Group in a research note on Tuesday, August 4th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ING Group in a research report on Friday, August 7th. UBS Group reissued a “buy” rating on shares of ING Group in a research report on Friday, July 31st. Jefferies Financial Group reiterated a “neutral” rating on shares of ING Group in a research note on Thursday, September 17th. Finally, Weiss Ratings upgraded shares of ING Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.50.

ING Group Trading Down 0.6%

The firm has a market cap of $95.66 billion, a P/E ratio of 12.48, a P/E/G ratio of 0.88 and a beta of 0.87. The business’s 50-day moving average is $35.65 and its two-hundred day moving average is $32.21.

ING Group (NYSE:ING) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. The business had revenue of $4.76 billion during the quarter, compared to analyst estimates of $6.99 billion. ING Group had a net margin of 28.15% and a return on equity of 12.59%. On average, analysts anticipate that ING Group, N.V. will post 2.80 earnings per share for the current year.

ING Group Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were paid a dividend of $0.4580 per share. This represents a yield of 260.0%. The ex-dividend date of this dividend was Monday, August 10th. This is a decrease from ING Group’s previous dividend of $0.8796. ING Group’s dividend payout ratio is 29.10%.

Institutional Investors Weigh In On ING Group

A number of institutional investors and hedge funds have recently bought and sold shares of ING. Bank of America Corp DE lifted its position in shares of ING Group by 1.0% during the 1st quarter. Bank of America Corp DE now owns 6,451,137 shares of the financial services provider’s stock valued at $168,052,000 after acquiring an additional 61,919 shares during the last quarter. Quantinno Capital Management LP raised its holdings in shares of ING Group by 9.5% during the first quarter. Quantinno Capital Management LP now owns 1,803,670 shares of the financial services provider’s stock valued at $46,986,000 after acquiring an additional 156,461 shares during the period. QRG Capital Management Inc. raised its holdings in shares of ING Group by 15.4% during the second quarter. QRG Capital Management Inc. now owns 394,253 shares of the financial services provider’s stock valued at $12,372,000 after acquiring an additional 52,524 shares during the period. Dimensional Fund Advisors LP grew its position in ING Group by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 313,500 shares of the financial services provider’s stock worth $8,167,000 after purchasing an additional 1,467 shares in the last quarter. Finally, Capital Investment Counsel LLC raised its stake in ING Group by 3.6% during the 1st quarter. Capital Investment Counsel LLC now owns 282,526 shares of the financial services provider’s stock valued at $7,360,000 after purchasing an additional 9,750 shares during the period. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Group Company Profile

ING Group N.V. is a Netherlands-based international banking and financial services company headquartered in Amsterdam. Through its banking operations, ING provides services to individuals, businesses and institutions, including current and savings accounts, consumer and residential lending, commercial loans, payments, investment products and other financial solutions.

ING serves customers across Europe and has a presence in selected markets in Asia and the Americas. Its retail banking business emphasizes digital platforms and mobile banking, while its wholesale banking division provides corporate and institutional clients with lending, financial markets, transaction services and other banking solutions.

The modern ING Group was formed in 1991 through the merger of Nationale-Nederlanden, an insurer, and NMB Postbank, a banking group.