ING Group’s (ING) Equal Weight Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of ING Group (NYSE:ING) in a report released on Monday morning, MarketBeat.com reports.

Several other brokerages have also recently issued reports on ING. Wall Street Zen cut ING Group from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Deutsche Bank Aktiengesellschaft raised ING Group from a “hold” rating to a “buy” rating in a report on Monday, February 2nd. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a research report on Monday, December 29th. Jefferies Financial Group began coverage on ING Group in a research note on Tuesday, January 27th. They set a “hold” rating for the company. Finally, Zacks Research raised shares of ING Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy”.

ING Group Trading Up 2.4%

Shares of ING opened at $25.76 on Monday. ING Group has a twelve month low of $16.47 and a twelve month high of $31.17. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.73. The firm has a market capitalization of $74.98 billion, a P/E ratio of 10.78, a PEG ratio of 0.82 and a beta of 0.78. The firm’s 50-day moving average is $28.30 and its two-hundred day moving average is $26.83.

ING Group (NYSE:ING) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. The company had revenue of $4.61 billion during the quarter, compared to the consensus estimate of $6.67 billion. ING Group had a net margin of 27.50% and a return on equity of 12.05%. On average, research analysts predict that ING Group will post 2.14 earnings per share for the current fiscal year.

ING Group Dividend Announcement

The business also recently declared a dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be given a dividend of $0.8796 per share. The ex-dividend date of this dividend is Friday, April 17th. This represents a yield of 589.0%. ING Group’s dividend payout ratio (DPR) is presently 28.87%.

Institutional Trading of ING Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. MidFirst Bank acquired a new position in shares of ING Group during the 4th quarter valued at about $25,000. Abound Wealth Management boosted its position in shares of ING Group by 2,757.6% in the third quarter. Abound Wealth Management now owns 943 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 910 shares during the last quarter. YANKCOM Partnership boosted its position in shares of ING Group by 197.2% in the fourth quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 629 shares during the last quarter. Binnacle Investments Inc grew its holdings in ING Group by 57.0% in the third quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 395 shares during the period. Finally, Transamerica Financial Advisors LLC grew its holdings in ING Group by 359.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 871 shares during the period. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

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.