ING Groep (NYSE:ING – Get Rating) declared a — dividend on Friday, August 5th, Wall Street Journal reports. Investors of record on Monday, August 15th will be given a dividend of 0.1737 per share by the financial services provider on Monday, August 22nd. This represents a dividend yield of 10.1%. The ex-dividend date of this dividend is Friday, August 12th.
ING Groep has a payout ratio of 62.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ING Groep to earn $1.51 per share next year, which means the company should continue to be able to cover its $0.86 annual dividend with an expected future payout ratio of 57.0%.
ING Groep Stock Up 2.5 %
ING opened at $9.74 on Friday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.10 and a current ratio of 1.10. ING Groep has a fifty-two week low of $8.57 and a fifty-two week high of $15.97. The firm’s fifty day moving average is $9.96 and its 200 day moving average is $10.96. The stock has a market cap of $37.99 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 0.76 and a beta of 1.63.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on ING. Berenberg Bank reduced their target price on shares of ING Groep from €14.50 ($14.95) to €13.00 ($13.40) in a report on Wednesday, April 20th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of ING Groep from €13.00 ($13.40) to €12.00 ($12.37) in a report on Tuesday, May 17th. Royal Bank of Canada reduced their target price on shares of ING Groep from €12.50 ($12.89) to €11.00 ($11.34) in a report on Tuesday, July 12th. UBS Group upped their price target on shares of ING Groep from €15.90 ($16.39) to €16.00 ($16.49) in a report on Wednesday, June 15th. Finally, The Goldman Sachs Group began coverage on shares of ING Groep in a report on Monday, May 30th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, ING Groep has an average rating of “Moderate Buy” and a consensus target price of $12.90.
Hedge Funds Weigh In On ING Groep
A number of hedge funds have recently added to or reduced their stakes in ING. Arrowstreet Capital Limited Partnership grew its stake in ING Groep by 4,412.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,823,310 shares of the financial services provider’s stock worth $19,017,000 after acquiring an additional 1,782,900 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of ING Groep in the 1st quarter worth approximately $9,905,000. Northern Trust Corp lifted its position in shares of ING Groep by 16.5% in the 1st quarter. Northern Trust Corp now owns 2,827,787 shares of the financial services provider’s stock worth $29,495,000 after purchasing an additional 400,334 shares during the period. Sei Investments Co. lifted its position in shares of ING Groep by 103.3% in the 1st quarter. Sei Investments Co. now owns 257,059 shares of the financial services provider’s stock worth $2,694,000 after purchasing an additional 130,589 shares during the period. Finally, Capital International Investors lifted its position in shares of ING Groep by 3.6% in the 1st quarter. Capital International Investors now owns 3,409,290 shares of the financial services provider’s stock worth $36,752,000 after purchasing an additional 118,464 shares during the period. 9.33% of the stock is currently owned by institutional investors.
About ING Groep
ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.
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