ING Group, N.V. (NYSE:ING) Sees Large Growth in Short Interest
by Amy Steele · The Cerbat GemING Group, N.V. (NYSE:ING – Get Free Report) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 4,291,953 shares, a growth of 28.6% from the December 15th total of 3,336,245 shares. Based on an average trading volume of 1,344,779 shares, the short-interest ratio is currently 3.2 days. Approximately 0.1% of the company’s stock are short sold. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 1,344,779 shares, the short-interest ratio is currently 3.2 days.
ING Group Stock Performance
ING traded up $0.12 during midday trading on Friday, hitting $29.04. 1,666,209 shares of the company traded hands, compared to its average volume of 1,498,911. The firm has a market capitalization of $84.52 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 1.89 and a beta of 0.82. The company’s 50-day moving average is $27.14 and its 200 day moving average is $25.28. ING Group has a 52 week low of $16.04 and a 52 week high of $29.21. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.
ING Group (NYSE:ING – Get Free Report) last posted its earnings results on Thursday, October 30th. The financial services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $5.35 billion. ING Group had a net margin of 26.94% and a return on equity of 11.57%. On average, research analysts expect that ING Group will post 2.14 EPS for the current year.
ING Group Announces Dividend
The firm also recently announced an annual dividend, which will be paid on Friday, January 23rd. Investors of record on Thursday, January 8th will be given a dividend of $0.2009 per share. This represents a yield of 71.0%. The ex-dividend date is Thursday, January 8th. ING Group’s payout ratio is 30.63%.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on ING. Cfra Research upgraded shares of ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a report on Monday, December 29th. Keefe, Bruyette & Woods downgraded ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Finally, Citigroup upgraded shares of ING Group to a “strong-buy” rating in a research note on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat, ING Group has a consensus rating of “Buy”.
Check Out Our Latest Research Report on ING Group
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Abound Wealth Management increased its stake in shares of ING Group by 2,757.6% in the 3rd quarter. Abound Wealth Management now owns 943 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 910 shares in the last quarter. Binnacle Investments Inc lifted its position in ING Group by 57.0% during the third quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 395 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in ING Group by 2,440.8% during the third quarter. Salomon & Ludwin LLC now owns 1,245 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 1,196 shares during the period. Rexford Capital Inc. purchased a new stake in ING Group in the second quarter worth about $33,000. Finally, Root Financial Partners LLC purchased a new stake in ING Group in the third quarter worth about $34,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.
About ING Group
ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.
ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.