ING Groep (NYSE:ING) Sets New 12-Month High – Should You Buy?

ING Groep (NYSE:ING) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $21.45 and last traded at $21.41, with a volume of 312667 shares changing hands. The stock had previously closed at $21.17.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ING shares. The Goldman Sachs Group upgraded ING Groep from a “neutral” rating to a “buy” rating in a report on Thursday, March 27th. Cfra Research raised shares of ING Groep from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

ING Groep Stock Up 0.5%

The firm has a market capitalization of $75.39 billion, a PE ratio of 10.07, a PEG ratio of 6.42 and a beta of 1.15. The company’s 50 day simple moving average is $19.50 and its 200-day simple moving average is $17.52. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13.

ING Groep (NYSE:ING) last released its earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The firm had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $5.74 billion. ING Groep had a return on equity of 11.81% and a net margin of 28.30%. On average, analysts forecast that ING Groep will post 2.14 EPS for the current fiscal year.

ING Groep Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, April 25th were given a $0.6526 dividend. This represents a dividend yield of 5.1%. This is a boost from ING Groep’s previous semi-annual dividend of $0.17. The ex-dividend date was Friday, April 25th. ING Groep’s dividend payout ratio (DPR) is currently 64.45%.

Hedge Funds Weigh In On ING Groep

Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its holdings in shares of ING Groep by 2.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,894,501 shares of the financial services provider’s stock valued at $154,653,000 after buying an additional 185,506 shares in the last quarter. Northern Trust Corp grew its holdings in ING Groep by 4.4% in the first quarter. Northern Trust Corp now owns 4,342,916 shares of the financial services provider’s stock worth $85,078,000 after purchasing an additional 181,800 shares during the period. Natixis Advisors LLC increased its stake in shares of ING Groep by 25.7% during the first quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider’s stock valued at $83,274,000 after purchasing an additional 869,281 shares in the last quarter. Royal Bank of Canada increased its stake in shares of ING Groep by 0.8% during the fourth quarter. Royal Bank of Canada now owns 3,946,653 shares of the financial services provider’s stock valued at $61,844,000 after purchasing an additional 31,963 shares in the last quarter. Finally, Todd Asset Management LLC lifted its holdings in shares of ING Groep by 1.6% during the fourth quarter. Todd Asset Management LLC now owns 2,771,941 shares of the financial services provider’s stock valued at $43,436,000 after purchasing an additional 42,851 shares during the last quarter. 4.49% of the stock is owned by institutional investors.

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.