ING Groep to Issue — Dividend of $0.17 (NYSE:ING)

ING Groep (NYSE:INGGet Rating) declared a — dividend on Friday, August 5th, Wall Street Journal reports. Shareholders of record on Monday, August 15th will be given a dividend of 0.1737 per share by the financial services provider on Monday, August 22nd. This represents a yield of 10.1%. The ex-dividend date is Friday, August 12th.

ING Groep has a dividend payout ratio of 62.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ING Groep to earn $1.51 per share next year, which means the company should continue to be able to cover its $0.86 annual dividend with an expected future payout ratio of 57.0%.

ING Groep Stock Performance

Shares of ING Groep stock traded up $0.25 on Friday, reaching $9.75. 668,267 shares of the stock were exchanged, compared to its average volume of 4,569,483. ING Groep has a 1-year low of $8.57 and a 1-year high of $15.97. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.83. The business has a fifty day moving average price of $9.99 and a two-hundred day moving average price of $11.00. The firm has a market capitalization of $38.03 billion, a PE ratio of 7.56, a PEG ratio of 0.78 and a beta of 1.63.

ING Groep (NYSE:INGGet Rating) last issued its quarterly earnings results on Friday, May 6th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.10. ING Groep had a net margin of 23.05% and a return on equity of 7.64%. The business had revenue of $5.16 billion for the quarter, compared to analyst estimates of $5.01 billion. As a group, research analysts anticipate that ING Groep will post 1.2 earnings per share for the current fiscal year.

Institutional Trading of ING Groep

Several institutional investors and hedge funds have recently modified their holdings of ING. Captrust Financial Advisors lifted its stake in shares of ING Groep by 35.4% during the first quarter. Captrust Financial Advisors now owns 11,456 shares of the financial services provider’s stock valued at $119,000 after buying an additional 2,993 shares during the period. PEAK6 Investments LLC purchased a new position in shares of ING Groep during the first quarter valued at approximately $126,000. Verition Fund Management LLC purchased a new position in shares of ING Groep during the first quarter valued at approximately $138,000. Sequoia Financial Advisors LLC lifted its stake in shares of ING Groep by 12.8% during the first quarter. Sequoia Financial Advisors LLC now owns 14,319 shares of the financial services provider’s stock valued at $149,000 after buying an additional 1,626 shares during the period. Finally, Private Advisor Group LLC lifted its stake in shares of ING Groep by 12.8% during the first quarter. Private Advisor Group LLC now owns 14,346 shares of the financial services provider’s stock valued at $149,000 after buying an additional 1,633 shares during the period. Hedge funds and other institutional investors own 9.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Barclays boosted their price target on shares of ING Groep from €10.90 ($11.24) to €11.50 ($11.86) in a research note on Thursday, June 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of ING Groep from €13.00 ($13.40) to €12.00 ($12.37) in a research note on Tuesday, May 17th. Royal Bank of Canada decreased their price objective on shares of ING Groep from €12.50 ($12.89) to €11.00 ($11.34) in a report on Tuesday, July 12th. Morgan Stanley boosted their price objective on shares of ING Groep from €13.50 ($13.92) to €14.00 ($14.43) in a report on Monday, June 27th. Finally, The Goldman Sachs Group started coverage on shares of ING Groep in a report on Monday, May 30th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.90.

ING Groep Company Profile

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ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.

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Dividend History for ING Groep (NYSE:ING)

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