ING Groep (NYSE:ING) Shares Gap Down – Here’s What Happened

ING Groep (NYSE:ING) gapped down prior to trading on Wednesday . The stock had previously closed at $17.64, but opened at $16.96. ING Groep shares last traded at $17.07, with a volume of 238,276 shares changing hands.

Analysts Set New Price Targets

Separately, Deutsche Bank Aktiengesellschaft cut shares of ING Groep from a “buy” rating to a “hold” rating in a report on Wednesday.

ING Groep Stock Down 2.8 %

The firm has a fifty day moving average of $17.72 and a 200-day moving average of $17.40. The company has a quick ratio of 1.12, a current ratio of 0.95 and a debt-to-equity ratio of 2.54. The firm has a market cap of $59.96 billion, a P/E ratio of 7.50 and a beta of 1.52.

ING Groep (NYSE:ING) last released its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.58 EPS for the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. The company had revenue of $6.15 billion during the quarter. During the same period in the previous year, the company posted $0.65 EPS. On average, equities research analysts anticipate that ING Groep will post 2.04 earnings per share for the current year.

ING Groep Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Monday, August 19th. Stockholders of record on Thursday, August 8th were paid a dividend of $0.8143 per share. This is an increase from ING Groep’s previous semi-annual dividend of $0.70. This represents a dividend yield of 5.9%. The ex-dividend date of this dividend was Thursday, August 8th. ING Groep’s payout ratio is currently 28.32%.

Hedge Funds Weigh In On ING Groep

Several institutional investors and hedge funds have recently modified their holdings of ING. Fisher Asset Management LLC boosted its holdings in shares of ING Groep by 8.5% during the 4th quarter. Fisher Asset Management LLC now owns 63,677,437 shares of the financial services provider’s stock worth $956,435,000 after buying an additional 4,995,615 shares during the period. Goldman Sachs Group Inc. grew its position in shares of ING Groep by 7.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock valued at $128,693,000 after purchasing an additional 622,037 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of ING Groep by 1.0% during the second quarter. Natixis Advisors LLC now owns 1,930,085 shares of the financial services provider’s stock worth $33,082,000 after purchasing an additional 18,472 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of ING Groep by 17.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,695,710 shares of the financial services provider’s stock worth $27,962,000 after purchasing an additional 257,440 shares during the period. Finally, American Century Companies Inc. lifted its holdings in ING Groep by 5.7% during the 2nd quarter. American Century Companies Inc. now owns 1,124,581 shares of the financial services provider’s stock worth $19,275,000 after purchasing an additional 60,908 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Groep 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.