ING Groep NV (ING) Trading Up 3.3%
ING Groep NV (NYSE:ING) shares were up 3.3% during mid-day trading on Wednesday . The company traded as high as $12.38 and last traded at $12.31, with a volume of 1,619,012 shares trading hands. The stock had previously closed at $11.92.
A number of research analysts recently weighed in on ING shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of ING Groep NV in a report on Tuesday, September 6th. Zacks Investment Research raised ING Groep NV from a “sell” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, August 30th. TheStreet raised ING Groep NV from a “sell” rating to a “hold” rating in a report on Thursday, July 7th. Finally, Macquarie raised ING Groep NV from an “underperform” rating to a “neutral” rating in a report on Tuesday, July 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. ING Groep NV presently has an average rating of “Hold” and an average price target of $13.63.
The stock has a market cap of $48.10 billion, a P/E ratio of 9.77 and a beta of 1.77. The firm’s 50 day moving average is $12.07 and its 200-day moving average is $11.80.
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The company also recently announced a dividend, which was paid on Monday, August 22nd. Shareholders of record on Monday, August 15th were issued a dividend of $0.219 per share. The ex-dividend date of this dividend was Thursday, August 11th. ING Groep NV’s dividend payout ratio is presently 47.24%.
Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of ING Groep NV by 436.5% in the first quarter. Renaissance Technologies LLC now owns 2,602,910 shares of the company’s stock valued at $31,053,000 after buying an additional 2,117,700 shares during the period. Societe Generale bought a new stake in shares of ING Groep NV during the second quarter valued at about $2,008,000. Franklin Resources Inc. increased its stake in shares of ING Groep NV by 0.4% in the first quarter. Franklin Resources Inc. now owns 1,016,997 shares of the company’s stock valued at $12,133,000 after buying an additional 4,084 shares during the period. Shelton Capital Management increased its stake in shares of ING Groep NV by 0.8% in the second quarter. Shelton Capital Management now owns 20,150 shares of the company’s stock valued at $208,000 after buying an additional 150 shares during the period. Finally, Princeton Alpha Management LP increased its stake in shares of ING Groep NV by 1.6% in the second quarter. Princeton Alpha Management LP now owns 25,753 shares of the company’s stock valued at $266,000 after buying an additional 406 shares during the period. 1.83% of the stock is currently owned by institutional investors and hedge funds.
About ING Groep NV
ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.
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