ING Group, N.V. (NYSE:ING) Short Interest Update

ING Group, N.V. (NYSE:ING – Get Free Report) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 3,084,196 shares, a growth of 52.4% from the August 31st total of 2,024,123 shares. Based on an average daily volume of 1,647,583 shares, the short-interest ratio is currently 1.9 days. Currently, 0.1% of the company’s shares are short sold.

ING Group Price Performance

Shares of ING stock opened at $34.56 on Friday. The company has a market cap of $98.85 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 0.92 and a beta of 0.87. ING Group has a 1-year low of $23.64 and a 1-year high of $37.52. The stock’s fifty day moving average price is $35.66 and its 200 day moving average price is $31.74.

ING Group (NYSE:ING – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.04. ING Group had a return on equity of 12.59% and a net margin of 28.15%.The firm had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $6.99 billion. As a group, equities research analysts anticipate that ING Group will post 2.82 earnings per share for the current year.

ING Group Cuts Dividend

The company also recently announced a dividend, which was paid on Monday, August 17th. Shareholders of record on Monday, August 10th were paid a $0.4580 dividend. This represents a yield of 260.0%. The ex-dividend date was Monday, August 10th. This is a negative change from ING Group’s previous dividend of $0.8796. ING Group’s dividend payout ratio (DPR) is presently 29.10%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ING. Morgan Stanley raised shares of ING Group from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, September 2nd. Zacks Research upgraded ING Group from a “strong sell” rating to a “hold” rating in a research note on Monday, July 27th. Finally, Weiss Ratings lowered ING Group from a “buy (a-)” rating to a “buy (b-)” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Get Our Latest Report on ING Group

Institutional Investors Weigh In On ING Group

Several large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its holdings in ING Group by 2.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 7,804,829 shares of the financial services provider’s stock worth $218,535,000 after purchasing an additional 191,101 shares in the last quarter. Bank of America Corp DE boosted its holdings in ING Group by 1.0% during the 1st quarter. Bank of America Corp DE now owns 6,451,137 shares of the financial services provider’s stock valued at $168,052,000 after acquiring an additional 61,919 shares during the period. Quantinno Capital Management LP lifted its holdings in ING Group by 9.5% during the first quarter. Quantinno Capital Management LP now owns 1,803,670 shares of the financial services provider’s stock worth $46,986,000 after buying an additional 156,461 shares during the period. Thornburg Investment Management Inc. raised its holdings in shares of ING Group by 15.8% in the fourth quarter. Thornburg Investment Management Inc. now owns 632,753 shares of the financial services provider’s stock worth $17,717,000 after buying an additional 86,364 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of ING Group by 6.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 542,264 shares of the financial services provider’s stock valued at $15,183,000 after purchasing an additional 32,866 shares during the period. Institutional investors own 4.49% of the company’s stock.

About ING Group

(Get Free Report)

ING Group N.V. is a Netherlands-based international banking and financial services company headquartered in Amsterdam. Through its banking operations, ING provides services to individuals, businesses and institutions, including current and savings accounts, consumer and residential lending, commercial loans, payments, investment products and other financial solutions.

ING serves customers across Europe and has a presence in selected markets in Asia and the Americas. Its retail banking business emphasizes digital platforms and mobile banking, while its wholesale banking division provides corporate and institutional clients with lending, financial markets, transaction services and other banking solutions.

The modern ING Group was formed in 1991 through the merger of Nationale-Nederlanden, an insurer, and NMB Postbank, a banking group.

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