ING Group, N.V. (NYSE:ING) Given Consensus Rating of “Moderate Buy” by Brokerages

ING Group, N.V. (NYSE:ING) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company.

A number of research analysts have commented on the company. Zacks Research upgraded ING Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Morgan Stanley raised ING Group from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, September 2nd. Finally, Weiss Ratings lowered ING Group from a “buy (a-)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th.

ING Group Stock Down 0.1%

ING stock opened at $37.15 on Wednesday. ING Group has a one year low of $23.63 and a one year high of $37.52. The firm has a market cap of $106.26 billion, a PE ratio of 13.86, a PEG ratio of 0.97 and a beta of 0.84. The firm’s 50 day moving average price is $34.34 and its 200-day moving average price is $30.72. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.11 and a current ratio of 1.10.

ING Group (NYSE:ING) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $6.99 billion. ING Group had a return on equity of 12.59% and a net margin of 28.15%. On average, equities research analysts anticipate that ING Group will post 2.82 EPS for the current year.

ING Group Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, August 17th. Stockholders of record on Monday, August 10th were given a dividend of $0.458 per share. This represents a dividend yield of 260.0%. The ex-dividend date of this dividend was Monday, August 10th. ING Group’s dividend payout ratio is currently 29.10%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Amundi acquired a new stake in ING Group during the 1st quarter worth approximately $760,000. AQR Capital Management LLC grew its stake in shares of ING Group by 27.0% in the first quarter. AQR Capital Management LLC now owns 87,240 shares of the financial services provider’s stock worth $1,709,000 after acquiring an additional 18,562 shares in the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of ING Group by 5.4% in the first quarter. Integrated Wealth Concepts LLC now owns 21,329 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 1,094 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of ING Group by 19.5% in the second quarter. Sivia Capital Partners LLC now owns 16,823 shares of the financial services provider’s stock worth $368,000 after acquiring an additional 2,745 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of ING Group by 28.9% during the second quarter. Invesco Ltd. now owns 47,534 shares of the financial services provider’s stock worth $1,040,000 after acquiring an additional 10,650 shares during the period. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Group Company Profile

ING Group N.V. is a Dutch international banking and financial services company headquartered in Amsterdam. Through its banking operations, ING provides retail and commercial banking services, including checking and savings accounts, consumer and business lending, mortgages, payments, investment products and digital banking solutions.

The company serves individual customers, small and medium-sized businesses, large corporations and institutional clients. Its retail banking activities are concentrated primarily in Europe, while its wholesale banking business supports clients in numerous countries with corporate lending, trade finance, financial markets, cash management and other banking services.