ING Groep (NYSE:ING – Get Rating) declared a semi-annual dividend on Friday, March 25th, Wall Street Journal reports. Stockholders of record on Thursday, April 28th will be given a dividend of 0.4525 per share by the financial services provider on Monday, May 16th. This represents a dividend yield of 8.2%. The ex-dividend date of this dividend is Wednesday, April 27th. This is a boost from ING Groep’s previous semi-annual dividend of $0.12.
ING Groep has a dividend payout ratio of 63.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect ING Groep to earn $1.47 per share next year, which means the company should continue to be able to cover its $0.91 annual dividend with an expected future payout ratio of 61.9%.
NYSE ING opened at $10.26 on Monday. ING Groep has a 52 week low of $8.97 and a 52 week high of $15.97. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.74. The business’s fifty day simple moving average is $10.98 and its 200-day simple moving average is $13.37. The firm has a market cap of $40.02 billion, a PE ratio of 6.98, a P/E/G ratio of 0.77 and a beta of 1.85.
Several research analysts have recently commented on the company. UBS Group lifted their price target on ING Groep from €14.40 ($15.48) to €15.30 ($16.45) in a report on Wednesday, April 13th. Royal Bank of Canada reduced their price objective on shares of ING Groep from €15.00 ($16.13) to €14.50 ($15.59) in a report on Friday, February 4th. StockNews.com began coverage on shares of ING Groep in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of ING Groep from €15.00 ($16.13) to €13.00 ($13.98) and set a “buy” rating on the stock in a report on Wednesday, April 13th. Finally, Morgan Stanley reduced their price objective on shares of ING Groep from €15.60 ($16.77) to €13.00 ($13.98) in a report on Thursday, March 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $13.68.
Large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC increased its stake in ING Groep by 913.1% during the fourth quarter. Cubist Systematic Strategies LLC now owns 147,954 shares of the financial services provider’s stock worth $2,060,000 after purchasing an additional 133,350 shares during the period. LPL Financial LLC increased its stake in ING Groep by 15.8% during the fourth quarter. LPL Financial LLC now owns 79,467 shares of the financial services provider’s stock worth $1,106,000 after purchasing an additional 10,872 shares during the period. Millennium Management LLC increased its stake in ING Groep by 248.3% during the fourth quarter. Millennium Management LLC now owns 60,473 shares of the financial services provider’s stock worth $842,000 after purchasing an additional 43,113 shares during the period. Invesco Ltd. purchased a new stake in ING Groep during the fourth quarter worth about $612,000. Finally, Strategic Wealth Advisors Group LLC increased its stake in ING Groep by 3.4% during the fourth quarter. Strategic Wealth Advisors Group LLC now owns 39,394 shares of the financial services provider’s stock worth $555,000 after purchasing an additional 1,297 shares during the period. Institutional investors own 3.78% of the company’s stock.
ING Groep Company Profile (Get Rating)
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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