ING Groep (NYSE:ING) Hits New 12-Month Low at $8.43

ING Groep (NYSE:INGGet Rating)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.43 and last traded at $8.47, with a volume of 90076 shares trading hands. The stock had previously closed at $8.56.

Analyst Ratings Changes

ING has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of ING Groep from €13.00 ($13.27) to €12.00 ($12.24) in a research note on Tuesday, May 17th. JPMorgan Chase & Co. increased their target price on shares of ING Groep from €12.80 ($13.06) to €13.00 ($13.27) in a report on Wednesday. Morgan Stanley increased their target price on ING Groep from €13.50 ($13.78) to €14.00 ($14.29) in a research report on Monday, June 27th. The Goldman Sachs Group started coverage on ING Groep in a research report on Monday, May 30th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada cut their price target on ING Groep from €12.50 ($12.76) to €11.00 ($11.22) in a research note on Tuesday, July 12th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.74.

ING Groep Trading Up 2.8 %

The firm has a market cap of $34.68 billion, a PE ratio of 7.66, a P/E/G ratio of 0.83 and a beta of 1.63. The company has a current ratio of 1.09, a quick ratio of 1.10 and a debt-to-equity ratio of 1.65. The business has a fifty day moving average price of $9.29 and a 200 day moving average price of $10.00.

ING Groep Cuts Dividend

The business also recently disclosed a — dividend, which was paid on Monday, August 22nd. Shareholders of record on Monday, August 15th were given a dividend of $0.1737 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a yield of 10.1%. ING Groep’s payout ratio is 25.00%.

Institutional Trading of ING Groep

Several hedge funds have recently modified their holdings of ING. Fisher Asset Management LLC lifted its holdings in shares of ING Groep by 6.7% in the 1st quarter. Fisher Asset Management LLC now owns 51,706,217 shares of the financial services provider’s stock valued at $539,296,000 after buying an additional 3,261,755 shares during the period. Cambiar Investors LLC lifted its holdings in shares of ING Groep by 821.9% in the 2nd quarter. Cambiar Investors LLC now owns 3,275,409 shares of the financial services provider’s stock valued at $32,492,000 after buying an additional 2,920,134 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of ING Groep by 4,412.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,823,310 shares of the financial services provider’s stock valued at $19,017,000 after buying an additional 1,782,900 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of ING Groep by 27.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 7,851,043 shares of the financial services provider’s stock valued at $77,882,000 after buying an additional 1,673,262 shares during the period. Finally, FMR LLC lifted its holdings in shares of ING Groep by 29.8% in the 2nd quarter. FMR LLC now owns 4,621,059 shares of the financial services provider’s stock valued at $45,841,000 after buying an additional 1,060,586 shares during the period. 4.39% of the stock is owned by institutional investors and hedge funds.

ING Groep Company Profile

(Get Rating)

ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking.

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