ING Group (NYSE:ING) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of ING Group (NYSE:ING) from a hold rating to a buy rating in a research note released on Monday morning, Marketbeat Ratings reports.

Other research analysts have also issued research reports about the company. Citigroup upgraded ING Group to a “strong-buy” rating in a report on Friday, November 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of ING Group in a report on Monday, December 29th. Keefe, Bruyette & Woods downgraded shares of ING Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, November 11th. Finally, Jefferies Financial Group initiated coverage on shares of ING Group in a research report on Tuesday, January 27th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, ING Group has an average rating of “Buy”.

ING Group Trading Down 1.0%

ING stock opened at $30.61 on Monday. ING Group has a 12-month low of $16.22 and a 12-month high of $31.18. The business’s 50-day moving average is $28.17 and its 200 day moving average is $25.90. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.99. The stock has a market cap of $89.08 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.52 and a beta of 0.80.

ING Group (NYSE:ING) last released its earnings results on Thursday, January 29th. The financial services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. The business had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $6.67 billion. ING Group had a return on equity of 12.26% and a net margin of 27.50%. On average, sell-side analysts anticipate that ING Group will post 2.14 EPS for the current fiscal year.

ING Group Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 17th will be issued a dividend of $0.8796 per share. This represents a dividend yield of 589.0%. The ex-dividend date is Friday, April 17th. ING Group’s payout ratio is currently 28.87%.

Institutional Investors Weigh In On ING Group

Several hedge funds and other institutional investors have recently bought and sold shares of ING. Capital Fund Management S.A. boosted its holdings in ING Group by 14.7% in the 2nd quarter. Capital Fund Management S.A. now owns 612,511 shares of the financial services provider’s stock valued at $13,396,000 after purchasing an additional 78,622 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of ING Group by 64.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 467,898 shares of the financial services provider’s stock valued at $10,233,000 after buying an additional 183,891 shares during the period. Logan Capital Management Inc. lifted its holdings in ING Group by 11.0% in the second quarter. Logan Capital Management Inc. now owns 220,820 shares of the financial services provider’s stock valued at $4,829,000 after acquiring an additional 21,853 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in ING Group by 25.2% in the second quarter. JPMorgan Chase & Co. now owns 1,314,705 shares of the financial services provider’s stock valued at $28,753,000 after acquiring an additional 264,858 shares during the last quarter. Finally, US Bancorp DE grew its position in ING Group by 45.5% in the second quarter. US Bancorp DE now owns 279,638 shares of the financial services provider’s stock worth $6,116,000 after acquiring an additional 87,464 shares during the period. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Group Company Profile

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.