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

ING Group, N.V. (NYSE:ING) has received a consensus rating of “Moderate Buy” from the six brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company.

A number of analysts recently issued reports on the company. Barclays upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 15th. Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 2nd.

ING Group Stock Up 1.0%

ING opened at $25.37 on Wednesday. ING Group has a 12 month low of $15.09 and a 12 month high of $25.43. The company has a market cap of $79.85 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83. The company has a 50 day moving average of $23.82 and a 200 day moving average of $21.37.

ING Group (NYSE:ING) last issued its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.05. ING Group had a net margin of 27.28% and a return on equity of 11.62%. The business had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.40 billion. On average, sell-side analysts expect that ING Group will post 2.14 EPS for the current year.

ING Group Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a dividend of $0.4002 per share. This represents a yield of 450.0%. The ex-dividend date of this dividend was Monday, August 11th. ING Group’s dividend payout ratio is 31.80%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ING. Geneos Wealth Management Inc. increased its holdings in shares of ING Group by 5.3% in the second quarter. Geneos Wealth Management Inc. now owns 9,429 shares of the financial services provider’s stock worth $206,000 after purchasing an additional 476 shares during the period. Bartlett & CO. Wealth Management LLC grew its position in ING Group by 14.3% during the second quarter. Bartlett & CO. Wealth Management LLC now owns 4,000 shares of the financial services provider’s stock worth $87,000 after buying an additional 500 shares in the last quarter. Drive Wealth Management LLC increased its stake in ING Group by 4.4% in the 2nd quarter. Drive Wealth Management LLC now owns 12,117 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 508 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in shares of ING Group by 4.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 12,705 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 530 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its position in shares of ING Group by 3.2% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 17,309 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 532 shares during the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Group Company Profile

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.