ING Groep (NYSE:ING) Shares Gap Up to $15.93

ING Groep (NYSE:ING) gapped up prior to trading on Thursday . The stock had previously closed at $15.93, but opened at $16.98. ING Groep shares last traded at $17.12, with a volume of 1,148,725 shares changing hands.

ING Groep Stock Performance

The company has a market capitalization of $63.16 billion, a PE ratio of 7.69 and a beta of 1.56. The firm’s fifty day simple moving average is $15.58 and its 200 day simple moving average is $14.45. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.12 and a quick ratio of 1.12.

ING Groep (NYSE:ING) last posted its quarterly earnings data on Thursday, February 1st. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.01). ING Groep had a net margin of 32.29% and a return on equity of 13.36%. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $6.15 billion. On average, research analysts predict that ING Groep will post 1.91 EPS for the current year.

ING Groep Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, April 25th will be given a $0.697 dividend. The ex-dividend date is Wednesday, April 24th. This represents a yield of 6.8%. This is a boost from ING Groep’s previous Semi-Annual dividend of $0.43. ING Groep’s dividend payout ratio is presently 62.90%.

Institutional Investors Weigh In On ING Groep

Hedge funds and other institutional investors have recently modified their holdings of the company. Fisher Asset Management LLC increased its stake in ING Groep by 8.7% in the fourth quarter. Fisher Asset Management LLC now owns 63,776,162 shares of the financial services provider’s stock valued at $957,918,000 after purchasing an additional 5,094,340 shares during the period. Goldman Sachs Group Inc. increased its position in ING Groep by 7.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider’s stock worth $128,693,000 after purchasing an additional 622,037 shares in the last quarter. Aristotle Capital Management LLC lifted its stake in shares of ING Groep by 0.3% during the third quarter. Aristotle Capital Management LLC now owns 7,158,995 shares of the financial services provider’s stock valued at $94,356,000 after buying an additional 21,110 shares during the period. FMR LLC lifted its stake in shares of ING Groep by 10.2% during the 3rd quarter. FMR LLC now owns 5,113,296 shares of the financial services provider’s stock worth $67,393,000 after purchasing an additional 474,505 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in ING Groep by 3.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,799,350 shares of the financial services provider’s stock worth $36,895,000 after buying an additional 98,057 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

About ING Groep

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.