ING Groep (NYSE:ING) Sets New 52-Week High – Still a Buy?

ING Groep (NYSE:ING) hit a new 52-week high during trading on Monday . The stock traded as high as $18.74 and last traded at $18.67, with a volume of 453208 shares. The stock had previously closed at $17.73.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley cut ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th.

ING Groep Stock Performance

The company’s fifty day simple moving average is $16.56 and its 200 day simple moving average is $16.76. The stock has a market capitalization of $68.16 billion, a P/E ratio of 9.11, a P/E/G ratio of 6.42 and a beta of 1.44. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89.

ING Groep (NYSE:ING) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. As a group, sell-side analysts forecast that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were given a dividend of $0.1667 per share. The ex-dividend date was Monday, January 13th. This represents a dividend yield of 6.4%. ING Groep’s dividend payout ratio (DPR) is presently 29.91%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Roxbury Financial LLC purchased a new position in ING Groep in the 4th quarter worth approximately $25,000. Brooklyn Investment Group lifted its holdings in shares of ING Groep by 184.8% during the 4th quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 1,207 shares during the last quarter. Redwood Investments LLC purchased a new position in ING Groep in the fourth quarter worth $41,000. Versant Capital Management Inc purchased a new position in ING Groep in the fourth quarter worth $45,000. Finally, IFP Advisors Inc increased its stake in ING Groep by 25.1% in the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 621 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors.

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.