ING Groep (NYSE:ING) Hits New 52-Week High at $18.74

ING Groep (NYSE:ING) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $18.74 and last traded at $18.74, with a volume of 2057 shares changing hands. The stock had previously closed at $18.63.

Analysts Set New Price Targets

Separately, Barclays upgraded ING Groep from an “equal weight” rating to an “overweight” rating in a report on Friday, June 7th.

ING Groep Trading Up 0.6 %

The company’s fifty day moving average is $17.81 and its two-hundred day moving average is $17.11. 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 stock has a market cap of $65.56 billion, a price-to-earnings ratio of 8.24 and a beta of 1.52.

ING Groep (NYSE:ING) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.58 EPS for the quarter. The firm had revenue of $6.15 billion for the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. During the same period last year, the company earned $0.65 EPS. On average, research analysts predict that ING Groep will post 2.02 EPS for the current fiscal year.

ING Groep Increases Dividend

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

Institutional Trading of ING Groep

Several institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in shares of ING Groep by 9.9% during the fourth quarter. Russell Investments Group Ltd. now owns 11,073 shares of the financial services provider’s stock worth $166,000 after buying an additional 1,001 shares during the period. Janney Montgomery Scott LLC grew its position in ING Groep by 85.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 69,174 shares of the financial services provider’s stock worth $1,039,000 after buying an additional 31,848 shares during the period. PNC Financial Services Group Inc. increased its holdings in ING Groep by 8.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 97,975 shares of the financial services provider’s stock valued at $1,472,000 after buying an additional 7,353 shares in the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of ING Groep during the 4th quarter valued at approximately $171,000. Finally, Wells Fargo & Company MN boosted its stake in shares of ING Groep by 96.6% during the 4th quarter. Wells Fargo & Company MN now owns 1,332,957 shares of the financial services provider’s stock worth $20,021,000 after acquiring an additional 655,011 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

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.