ING Groep (NYSE:ING) Downgraded to “Equal Weight” at Barclays

Barclays cut shares of ING Groep (NYSE:ING) from an overweight rating to an equal weight rating in a report issued on Tuesday morning, MarketBeat reports.

Other analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft cut ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Citigroup raised ING Groep to a “strong-buy” rating in a report on Thursday, October 17th.

ING Groep Stock Down 1.7 %

Shares of NYSE ING opened at $16.90 on Tuesday. The stock has a market cap of $59.12 billion, a P/E ratio of 7.48 and a beta of 1.52. The company has a current ratio of 0.95, a quick ratio of 1.12 and a debt-to-equity ratio of 2.54. ING Groep has a 12-month low of $12.44 and a 12-month high of $18.72. The business’s fifty day simple moving average is $17.79 and its 200-day simple moving average is $17.46.

ING Groep (NYSE:ING) last posted its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share 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 for the quarter. During the same quarter in the prior year, the business earned $0.65 earnings per share. As a group, equities analysts predict that ING Groep will post 2.04 EPS for the current fiscal year.

ING Groep Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 19th. Shareholders of record on Thursday, August 8th were issued a dividend of $0.8143 per share. This is a positive change from ING Groep’s previous semi-annual dividend of $0.70. The ex-dividend date of this dividend was Thursday, August 8th. This represents a dividend yield of 5.9%. ING Groep’s dividend payout ratio (DPR) is presently 28.32%.

Institutional Investors Weigh In On ING Groep

Institutional investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. acquired a new stake in shares of ING Groep during the 4th quarter valued at approximately $160,000. &PARTNERS acquired a new stake in shares of ING Groep during the 1st quarter valued at approximately $193,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of ING Groep by 8.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 96,682 shares of the financial services provider’s stock valued at $1,594,000 after acquiring an additional 7,209 shares during the period. Financial Management Professionals Inc. raised its position in shares of ING Groep by 67.8% during the 1st quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 662 shares during the last quarter. Finally, Galibier Capital Management Ltd. raised its position in shares of ING Groep by 58.4% during the 1st quarter. Galibier Capital Management Ltd. now owns 92,208 shares of the financial services provider’s stock worth $1,521,000 after purchasing an additional 34,000 shares during the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

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.