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

ING Group, N.V. (NYSE:ING)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.22 and traded as high as $35.09. ING Group shares last traded at $35.0340, with a volume of 1,530,187 shares traded.

Analyst Ratings Changes

ING has been the subject of several analyst reports. Weiss Ratings lowered ING Group from a “buy (a-)” rating to a “buy (b-)” rating in a research report on Thursday, August 13th. Zacks Research raised shares of ING Group from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. One equities research 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. Based on data from MarketBeat, ING Group presently has an average rating of “Moderate Buy”.

ING Group Stock Performance

The company has a current ratio of 1.10, a quick ratio of 1.11 and a debt-to-equity ratio of 2.99. The company has a market capitalization of $101.59 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 0.91 and a beta of 0.85. The stock’s fifty day simple moving average is $33.38 and its 200-day simple moving average is $30.25.

ING Group (NYSE:ING) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.75 by $0.04. The company 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%. Analysts predict that ING Group, N.V. will post 2.82 EPS for the current year.

ING Group Cuts Dividend

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

Institutional Trading of ING Group

Institutional investors have recently modified their holdings of the stock. Rehmann Capital Advisory Group lifted its position in ING Group by 1.5% in the 2nd quarter. Rehmann Capital Advisory Group now owns 22,251 shares of the financial services provider’s stock worth $698,000 after buying an additional 336 shares in the last quarter. Greenspring Advisors LLC boosted its position in ING Group by 3.1% during the second quarter. Greenspring Advisors LLC now owns 11,216 shares of the financial services provider’s stock valued at $352,000 after purchasing an additional 339 shares during the last quarter. Contravisory Investment Management Inc. grew its stake in ING Group by 3.5% in the second quarter. Contravisory Investment Management Inc. now owns 10,309 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 349 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of ING Group by 4.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 8,734 shares of the financial services provider’s stock worth $245,000 after purchasing an additional 361 shares in the last quarter. Finally, Aprio Wealth Management LLC grew its stake in shares of 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 buying an additional 370 shares in the last quarter. 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.