ING Groep (NYSE:ING) Downgraded by Barclays

Barclays cut shares of ING Groep (NYSE:ING) from an overweight rating to an equal weight rating in a report published on Tuesday morning, Marketbeat Ratings reports.

A number of other analysts have also recently weighed in on the stock. Citigroup raised shares of ING Groep to a “strong-buy” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered shares of ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th.

ING Groep Stock Up 0.8 %

Shares of ING Groep stock opened at $16.86 on Tuesday. The business has a 50-day moving average price of $17.78 and a 200 day moving average price of $17.45. ING Groep has a fifty-two week low of $12.44 and a fifty-two week high of $18.72. The firm has a market cap of $58.98 billion, a P/E ratio of 7.46 and a beta of 1.52. The company has a quick ratio of 1.12, a current ratio of 0.95 and a debt-to-equity ratio of 2.54.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share for the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. The business had revenue of $6.15 billion during the quarter. During the same quarter last year, the firm posted $0.65 earnings per share. On average, sell-side analysts forecast that ING Groep will post 2.04 earnings per share for the current fiscal year.

ING Groep Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Monday, August 19th. Investors of record on Thursday, August 8th were given a dividend of $0.8143 per share. The ex-dividend date was Thursday, August 8th. This represents a yield of 5.9%. This is a positive change from ING Groep’s previous semi-annual dividend of $0.70. ING Groep’s payout ratio is currently 28.32%.

Institutional Investors Weigh In On ING Groep

Several large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. grew its position in shares of ING Groep by 14.0% during the first quarter. Sei Investments Co. now owns 655,159 shares of the financial services provider’s stock worth $10,804,000 after acquiring an additional 80,398 shares during the last quarter. Capital Research Global Investors grew its position in ING Groep by 51.2% in the 1st quarter. Capital Research Global Investors now owns 203,780 shares of the financial services provider’s stock worth $3,360,000 after purchasing an additional 68,966 shares during the last quarter. Virtu Financial LLC raised its holdings in shares of ING Groep by 172.6% during the first quarter. Virtu Financial LLC now owns 77,870 shares of the financial services provider’s stock valued at $1,284,000 after buying an additional 49,307 shares during the last quarter. Creative Planning raised its holdings in shares of ING Groep by 18.4% during the second quarter. Creative Planning now owns 209,405 shares of the financial services provider’s stock valued at $3,589,000 after buying an additional 32,534 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of ING Groep by 126.1% during the first quarter. Quantbot Technologies LP now owns 99,246 shares of the financial services provider’s stock worth $1,637,000 after buying an additional 55,343 shares during the period. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Groep Company Profile

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.