ING Groep (NYSE:ING) Shares Gap Up – Here’s What Happened

ING Groep (NYSE:ING)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $19.46, but opened at $20.06. ING Groep shares last traded at $20.20, with a volume of 694,177 shares changing hands.

Analysts Set New Price Targets

Separately, Morgan Stanley downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, November 26th.

ING Groep Trading Up 3.9 %

The firm has a market capitalization of $72.67 billion, a price-to-earnings ratio of 9.71, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44. The company has a fifty day moving average price of $16.83 and a 200-day moving average price of $16.83. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89.

ING Groep (NYSE:ING) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. On average, equities research analysts predict that ING Groep will post 2.14 EPS for the current year.

ING Groep Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Shareholders of record on Monday, January 13th were issued a dividend of $0.1667 per share. The ex-dividend date of this dividend was Monday, January 13th. This represents a yield of 6.4%. ING Groep’s dividend payout ratio (DPR) is presently 29.91%.

Institutional Trading of ING Groep

A number of institutional investors and hedge funds have recently modified their holdings of the company. Roxbury Financial LLC acquired a new position in ING Groep during the 4th quarter worth $25,000. Brooklyn Investment Group increased its stake in shares of ING Groep by 184.8% in the fourth quarter. Brooklyn Investment Group now owns 1,860 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,207 shares during the period. Redwood Investments LLC acquired a new position in shares of ING Groep during the 4th quarter worth about $41,000. Versant Capital Management Inc bought a new stake in ING Groep during the 4th quarter valued at approximately $45,000. Finally, IFP Advisors Inc grew its holdings in ING Groep by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock valued at $48,000 after buying an additional 621 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Groep Company Profile

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.