ING Groep (NYSE:ING) Rating Increased to Buy at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of ING Groep (NYSE:ING) from a neutral rating to a buy rating in a research note released on Thursday morning, Marketbeat reports.

ING Groep Trading Down 1.1 %

ING opened at $19.83 on Thursday. The stock has a market capitalization of $69.35 billion, a PE ratio of 9.26, a P/E/G ratio of 6.42 and a beta of 1.44. ING Groep has a one year low of $15.09 and a one year high of $20.79. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The business’s 50 day moving average price is $18.09 and its 200 day moving average price is $17.05.

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

ING Groep Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be paid a $0.6526 dividend. This represents a dividend yield of 5.1%. This is an increase from ING Groep’s previous semi-annual dividend of $0.17. The ex-dividend date is Friday, April 25th. ING Groep’s payout ratio is 60.75%.

Institutional Investors Weigh In On ING Groep

A number of institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of ING Groep by 129.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 166,677 shares of the financial services provider’s stock valued at $2,612,000 after purchasing an additional 94,080 shares during the period. Challenger Wealth Management acquired a new stake in ING Groep during the 4th quarter worth approximately $329,000. Forum Financial Management LP boosted its position in ING Groep by 10.4% in the 4th quarter. Forum Financial Management LP now owns 47,283 shares of the financial services provider’s stock valued at $741,000 after buying an additional 4,467 shares during the period. Parr Mcknight Wealth Management Group LLC acquired a new position in shares of ING Groep in the fourth quarter worth $195,000. Finally, Waverly Advisors LLC purchased a new stake in shares of ING Groep during the fourth quarter worth $398,000. 4.49% of the stock is 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.