ING Groep (NYSE:ING) Sets New 1-Year High at $14.87

ING Groep (NYSE:ING)’s share price reached a new 52-week high on Thursday . The stock traded as high as $14.87 and last traded at $14.80, with a volume of 44230 shares changing hands. The stock had previously closed at $14.63.

Several analysts have weighed in on ING shares. Kepler Capital Markets lowered ING Groep from an “overweight” rating to a “neutral” rating in a report on Tuesday, June 22nd. Morgan Stanley reissued an “overweight” rating on shares of ING Groep in a report on Tuesday, August 17th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of ING Groep in a research note on Tuesday, October 5th. Royal Bank of Canada reiterated an “outperform” rating on shares of ING Groep in a research report on Monday, August 9th. Finally, Berenberg Bank reiterated a “buy” rating on shares of ING Groep in a research report on Monday, August 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $14.51.

The company has a market cap of $57.96 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 0.40 and a beta of 1.88. The firm has a 50-day moving average price of $13.90 and a 200 day moving average price of $13.30. The company has a current ratio of 0.93, a quick ratio of 1.08 and a debt-to-equity ratio of 1.67.

ING Groep (NYSE:ING) last issued its earnings results on Friday, August 6th. The financial services provider reported $0.45 EPS for the quarter. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.13 billion. ING Groep had a return on equity of 7.37% and a net margin of 22.56%. Research analysts anticipate that ING Groep will post 1.46 earnings per share for the current fiscal year.

The company also recently announced a Variable dividend, which will be paid on Tuesday, October 19th. Stockholders of record on Tuesday, October 5th will be given a $0.478 dividend. The ex-dividend date is Monday, October 4th. ING Groep’s payout ratio is 82.19%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Veriti Management LLC lifted its holdings in shares of ING Groep by 101.2% in the 3rd quarter. Veriti Management LLC now owns 46,211 shares of the financial services provider’s stock worth $670,000 after purchasing an additional 23,244 shares during the last quarter. CAPROCK Group Inc. lifted its holdings in shares of ING Groep by 333.6% in the 3rd quarter. CAPROCK Group Inc. now owns 63,093 shares of the financial services provider’s stock worth $914,000 after purchasing an additional 48,542 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of ING Groep by 0.9% in the 2nd quarter. Bank of America Corp DE now owns 8,115,632 shares of the financial services provider’s stock worth $107,451,000 after purchasing an additional 71,408 shares during the last quarter. Marshall Wace North America L.P. lifted its holdings in shares of ING Groep by 411.6% in the 2nd quarter. Marshall Wace North America L.P. now owns 227,605 shares of the financial services provider’s stock worth $3,014,000 after purchasing an additional 183,113 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of ING Groep by 47.7% in the 2nd quarter. Morgan Stanley now owns 937,919 shares of the financial services provider’s stock worth $12,419,000 after purchasing an additional 303,014 shares during the last quarter. 3.51% of the stock is currently owned by institutional investors and hedge funds.

ING Groep Company Profile (NYSE:ING)

ING Groep NV engages in the provision of banking, investments, life and non-life insurance, and retirement and asset management services. It operates through the following segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other and Wholesale Banking. The Retail Netherlands segment offers current and savings accounts, business lending, mortgages, and consumer lending.

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