ING Group (NYSE:ING) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

by · The Markets Daily

Shares of ING Group, N.V. (NYSE:ING – Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.96 and traded as high as $35.87. ING Group shares last traded at $35.6050, with a volume of 1,405,221 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Zacks Research upgraded shares of ING Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings downgraded ING Group from a “buy (a-)” rating to a “buy (b-)” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

View Our Latest Stock Analysis on ING Group

ING Group Stock Up 0.2%

The firm has a fifty day simple moving average of $32.63 and a 200-day simple moving average of $30.00. The firm has a market cap of $102.03 billion, a price-to-earnings ratio of 13.31, a P/E/G ratio of 0.93 and a beta of 0.85. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.11 and a current ratio of 1.10.

ING Group (NYSE:ING – Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.04. The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $6.99 billion. ING Group had a net margin of 28.15% and a return on equity of 12.59%. As a group, sell-side analysts expect that ING Group, N.V. will post 2.82 EPS for the current year.

ING Group Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 10th will be issued a $0.458 dividend. This represents a yield of 260.0%. The ex-dividend date of this dividend is Monday, August 10th. ING Group’s dividend payout ratio is currently 29.10%.

Institutional Investors Weigh In On ING Group

A number of institutional investors have recently made changes to their positions in ING. Contravisory Investment Management Inc. increased its stake in shares of ING Group by 3.5% during the second quarter. Contravisory Investment Management Inc. now owns 10,309 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 349 shares during the period. CIBC Private Wealth Group LLC boosted its stake in ING Group by 4.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 8,734 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 361 shares during the period. Aprio Wealth Management LLC boosted its stake in ING Group by 1.6% in the 4th quarter. Aprio Wealth Management LLC now owns 23,240 shares of the financial services provider’s stock valued at $651,000 after purchasing an additional 370 shares during the period. Quadrant Capital Group LLC grew its holdings in ING Group by 0.4% in the 4th quarter. Quadrant Capital Group LLC now owns 106,170 shares of the financial services provider’s stock valued at $2,973,000 after buying an additional 374 shares in the last quarter. Finally, Binnacle Investments Inc grew its holdings in ING Group by 57.0% in the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock valued at $28,000 after buying an additional 395 shares in the last quarter. Institutional investors own 4.49% of the company’s stock.

About ING Group

(Get Free Report)

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.

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