ING Groep (NYSE:ING) Reaches New 12-Month High – Here’s Why

ING Groep (NYSE:ING)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $18.74 and last traded at $18.67, with a volume of 453208 shares trading hands. The stock had previously closed at $17.73.

Wall Street Analyst Weigh In

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

ING Groep Trading Up 4.9 %

The company has a 50 day moving average of $16.45 and a 200-day moving average of $16.75. 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 stock has a market cap of $65.05 billion, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 6.42 and a beta of 1.46.

ING Groep (NYSE:ING) last posted its earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (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, research analysts anticipate that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

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

Hedge Funds Weigh In On ING Groep

Hedge funds have recently bought and sold shares of the company. Challenger Wealth Management purchased a new stake in ING Groep during the 4th quarter worth about $329,000. Forum Financial Management LP increased its holdings in ING Groep by 10.4% during the 4th quarter. Forum Financial Management LP now owns 47,283 shares of the financial services provider’s stock worth $741,000 after purchasing an additional 4,467 shares during the period. Parr Mcknight Wealth Management Group LLC purchased a new stake in ING Groep during the 4th quarter worth about $195,000. Waverly Advisors LLC purchased a new stake in ING Groep during the 4th quarter worth about $398,000. Finally, Royal Bank of Canada increased its holdings in ING Groep by 0.8% during the 4th quarter. Royal Bank of Canada now owns 3,946,653 shares of the financial services provider’s stock worth $61,844,000 after purchasing an additional 31,963 shares during the period. Institutional investors and hedge funds own 4.49% of the company’s stock.

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.