ING Group (NYSE: ING – Get Rating) declared a semi-annual dividend on Friday, March 25, reports The Wall Street Journal. Shareholders of record on Thursday, April 28 will receive a dividend of 0.4525 per share from the financial services provider on Monday, May 16. This represents a dividend yield of 8.2%. The ex-dividend date is Wednesday, April 27. This is a boost from ING Groep’s previous semi-annual dividend of $0.12.
ING Groep has a dividend payout ratio of 63.6%, indicating that its dividend is sufficiently covered by earnings. Analysts expect ING Groep to earn $1.47 per share next year, meaning the company should continue to be able to cover its $0.91 annual dividend with a payout ratio. expected future of 61.9%.
NYSE ING opened at $10.26 on Monday. ING Groep has a 52-week low of $8.97 and a 52-week high of $15.97. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt ratio of 1.74. The company’s fifty-day simple moving average is $10.98 and its 200-day simple moving average is $13.37. The company has a market capitalization of $40.02 billion, a PE ratio of 6.98, a P/E/G ratio of 0.77 and a beta of 1.85.
ING Groep (NYSE: ING – Get Rating) last released its quarterly results on Thursday, February 3. The financial services provider reported EPS of $0.30 for the quarter, missing the consensus estimate of $0.33 per ($0.03). ING Groep achieved a return on equity of 8.68% and a net margin of 25.83%. The company posted revenue of $5.47 billion for the quarter, versus $4.94 billion expected by analysts. Research analysts expect ING Groep to post EPS of 1.02 for the current year.
Several research analysts have recently commented on the company. UBS Group raised its price target on ING Groep from €14.40 ($15.48) to €15.30 ($16.45) in a Wednesday, April 13 report. Royal Bank of Canada cut its price target on ING Groep shares from €15.00 ($16.13) to €14.50 ($15.59) in a report on Friday, February 4. StockNews.com began covering ING Groep shares in a report on Thursday, March 31. They issued a “holding” rating on the stock. Deutsche Bank Aktiengesellschaft cut its price target on ING Groep shares from €15.00 ($16.13) to €13.00 ($13.98) and set a “buy” rating on the action in a report on Wednesday, April 13. Finally, Morgan Stanley cut its price target on ING Groep shares from €15.60 ($16.77) to €13.00 ($13.98) in a Thursday, March 24 report. One equity research analyst has assigned the stock a sell rating, seven have issued a hold rating and five have assigned the stock a buy rating. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $13.68.
Major investors have recently changed their stake in the company. Cubist Systematic Strategies LLC increased its stake in ING Groep by 913.1% during the fourth quarter. Cubist Systematic Strategies LLC now owns 147,954 shares of the financial services provider worth $2,060,000 after purchasing an additional 133,350 shares during the period. LPL Financial LLC increased its stake in ING Groep by 15.8% during the fourth quarter. LPL Financial LLC now owns 79,467 shares of the financial services provider worth $1,106,000 after purchasing an additional 10,872 shares during the period. Millennium Management LLC increased its stake in ING Groep by 248.3% during the fourth quarter. Millennium Management LLC now owns 60,473 shares of the financial services provider worth $842,000 after purchasing an additional 43,113 shares during the period. Invesco Ltd. acquired a new stake in ING Groep during the fourth quarter for a value of approximately $612,000. Finally, Strategic Wealth Advisors Group LLC increased its stake in ING Groep by 3.4% during the fourth quarter. Strategic Wealth Advisors Group LLC now owns 39,394 shares of the financial services provider worth $555,000 after purchasing an additional 1,297 shares during the period. Institutional investors hold 3.78% of the company’s shares.
ING Group Company Profile (Get a rating)
ING Groep NV, a financial institution, offers various banking products and services in the Netherlands, Belgium, Germany, Poland, the 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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