Cfra Research Upgrades ING Groep (NYSE:ING) to Hold

Cfra Research upgraded shares of ING Groep (NYSE:ING) from a moderate sell rating to a hold rating in a report issued on Tuesday morning,Zacks.com reports.

Separately, The Goldman Sachs Group raised ING Groep from a “neutral” rating to a “buy” rating in a report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

ING Groep Stock Up 0.6 %

Shares of NYSE:ING opened at $20.21 on Tuesday. The business has a fifty day simple moving average of $19.30 and a 200 day simple moving average of $17.29. ING Groep has a 12-month low of $15.09 and a 12-month high of $20.79. The firm has a market cap of $70.71 billion, a P/E ratio of 9.44, a P/E/G ratio of 6.42 and a beta of 1.15. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.89.

ING Groep (NYSE:ING) last posted its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). The company had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $5.74 billion. ING Groep had a net margin of 28.30% and a return on equity of 11.81%. Analysts predict that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be given a $0.6526 dividend. This represents a dividend yield of 5.1%. This is a boost from ING Groep’s previous semi-annual dividend of $0.17. The ex-dividend date of this dividend is Friday, April 25th. ING Groep’s dividend payout ratio is 61.61%.

Institutional Investors Weigh In On ING Groep

Several hedge funds have recently bought and sold shares of ING. Northern Trust Corp lifted its holdings in shares of ING Groep by 48.2% during the 4th quarter. Northern Trust Corp now owns 4,161,116 shares of the financial services provider’s stock worth $65,205,000 after acquiring an additional 1,353,054 shares during the last quarter. Raymond James Financial Inc. bought a new stake in ING Groep during the fourth quarter worth about $14,375,000. Natixis Advisors LLC lifted its stake in ING Groep by 25.7% during the first quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider’s stock worth $83,274,000 after purchasing an additional 869,281 shares during the last quarter. Guardian Partners Inc. purchased a new position in shares of ING Groep in the 4th quarter worth about $11,730,000. Finally, ABC Arbitrage SA bought a new position in shares of ING Groep during the 4th quarter valued at about $10,129,000. 4.49% of the stock is currently owned by institutional investors.

About ING Groep

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.