ING Groep (NYSE:ING) Upgraded at Citigroup

Citigroup upgraded shares of ING Groep (NYSE:ING) to a strong-buy rating in a research report report published on Thursday, Zacks.com reports.

Separately, Deutsche Bank Aktiengesellschaft downgraded ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th.

ING Groep Price Performance

Shares of NYSE:ING opened at $17.38 on Thursday. The business has a 50 day moving average price of $17.77 and a 200 day moving average price of $17.45. The company has a quick ratio of 1.12, a current ratio of 0.95 and a debt-to-equity ratio of 2.54. ING Groep has a twelve month low of $12.44 and a twelve month high of $18.72. The company has a market cap of $60.80 billion, a price-to-earnings ratio of 7.69 and a beta of 1.52.

ING Groep (NYSE:ING) last announced 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 quarter in the prior year, the business posted $0.65 EPS. Research analysts predict that ING Groep will post 2.04 earnings per share for the current year.

ING Groep Increases Dividend

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

Hedge Funds Weigh In On ING Groep

Hedge funds have recently modified their holdings of the stock. Natixis Advisors LLC increased its holdings in ING Groep by 1.0% during the 2nd quarter. Natixis Advisors LLC now owns 1,930,085 shares of the financial services provider’s stock valued at $33,082,000 after purchasing an additional 18,472 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in ING Groep by 17.9% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 1,695,710 shares of the financial services provider’s stock valued at $27,962,000 after purchasing an additional 257,440 shares in the last quarter. American Century Companies Inc. increased 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 valued at $19,275,000 after purchasing an additional 60,908 shares in the last quarter. Raymond James & Associates increased its holdings in ING Groep by 49.7% during the 3rd quarter. Raymond James & Associates now owns 794,658 shares of the financial services provider’s stock valued at $14,431,000 after purchasing an additional 263,904 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in ING Groep by 14.0% during the 1st quarter. Sei Investments Co. now owns 655,159 shares of the financial services provider’s stock valued at $10,804,000 after purchasing an additional 80,398 shares in the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

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.