ING Groep (NYSE:ING) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of ING Groep (NYSE:ING – Get Rating) in a research note issued to investors on Thursday. The firm issued a hold rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. Morgan Stanley raised their target price on ING Groep from €14.00 ($15.05) to €16.00 ($17.20) and gave the company an overweight rating in a research note on Friday, November 18th. JPMorgan Chase & Co. raised their target price on ING Groep from €13.00 ($13.98) to €13.40 ($14.41) in a research note on Wednesday, December 7th. Finally, Societe Generale downgraded ING Groep from a buy rating to a hold rating in a research note on Friday, February 3rd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $13.91.

ING Groep Trading Down 5.2 %

ING stock opened at $11.21 on Thursday. The company’s 50 day simple moving average is $13.62 and its 200-day simple moving average is $11.62. ING Groep has a 12 month low of $8.14 and a 12 month high of $14.72.

ING Groep Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, May 12th. Shareholders of record on Thursday, April 27th will be given a $0.4101 dividend. This is a positive change from ING Groep’s previous semi-annual dividend of $0.07. The ex-dividend date of this dividend is Wednesday, April 26th. This represents a yield of 4.6%. ING Groep’s payout ratio is 14.71%.

Hedge Funds Weigh In On ING Groep

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of ING Groep by 17.0% during the 1st quarter. Bank of New York Mellon Corp now owns 202,967 shares of the financial services provider’s stock valued at $2,117,000 after acquiring an additional 29,528 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of ING Groep by 17.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 20,836 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 3,060 shares during the last quarter. Cetera Advisor Networks LLC lifted its stake in shares of ING Groep by 11.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 16,011 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 1,673 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of ING Groep by 12.8% in the 1st quarter. Private Advisor Group LLC now owns 14,346 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Cibc World Market Inc. lifted its stake in shares of ING Groep by 5.0% in the 1st quarter. Cibc World Market Inc. now owns 183,067 shares of the financial services provider’s stock valued at $1,909,000 after purchasing an additional 8,764 shares during the last quarter. 3.99% of the stock is currently owned by hedge funds and other institutional investors.

ING Groep Company Profile

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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, Wholesale Banking, and Corporate Line. The Retail Netherlands segment offers current and savings accounts, business lending, mortgages, and consumer lending.