ING Group (NYSE:ING) Sets New 12-Month High – Here’s Why

ING Group, N.V. (NYSE:ING) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $28.84 and last traded at $28.9470, with a volume of 212036 shares traded. The stock had previously closed at $28.76.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods cut ING Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, November 11th. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a report on Monday, December 29th. Citigroup raised ING Group to a “strong-buy” rating in a research report on Friday, November 21st. Finally, Cfra Research upgraded ING Group from a “hold” rating to a “moderate buy” rating in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, ING Group presently has an average rating of “Buy”.

ING Group Stock Performance

The firm has a 50 day moving average of $26.59 and a 200-day moving average of $24.90. The company has a market cap of $83.21 billion, a P/E ratio of 12.88, a PEG ratio of 1.88 and a beta of 0.82. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.

ING Group (NYSE:ING) last issued its earnings results on Thursday, October 30th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.06. ING Group had a return on equity of 11.57% and a net margin of 26.94%.The business had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $5.35 billion. As a group, sell-side analysts anticipate that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

ING Group Announces Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, January 23rd. Investors of record on Thursday, January 8th will be paid a $0.2009 dividend. The ex-dividend date of this dividend is Thursday, January 8th. This represents a yield of 69.0%. ING Group’s dividend payout ratio is 31.08%.

Institutional Investors Weigh In On ING Group

Large investors have recently modified their holdings of the business. Abound Wealth Management boosted its stake in shares of ING Group by 2,757.6% during the third quarter. Abound Wealth Management now owns 943 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 910 shares in the last quarter. Binnacle Investments Inc lifted its holdings in ING Group by 57.0% during the third quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock worth $28,000 after buying an additional 395 shares during the period. Salomon & Ludwin LLC boosted its position in ING Group by 2,440.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 1,245 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 1,196 shares in the last quarter. Rexford Capital Inc. purchased a new position in shares of ING Group in the 2nd quarter valued at $33,000. Finally, Root Financial Partners LLC bought a new position in shares of ING Group in the 3rd quarter worth $34,000. Institutional investors own 4.49% of the company’s stock.

ING Group Company Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.