ING Groep (NYSE:ING) Shares Gap Up After Dividend Announcement

Shares of ING Groep (NYSE:ING - Get Free Report) gapped up before the market opened on Tuesday after the company announced a dividend. The stock had previously closed at $19.77, but opened at $20.26. ING Groep shares last traded at $20.21, with a volume of 273,455 shares changing hands.

The newly announced dividend which will be paid on Friday, May 9th. Stockholders of record on Friday, April 25th will be given a dividend of $0.6526 per share. This represents a dividend yield of 5.1%. The ex-dividend date is Friday, April 25th. This is an increase from ING Groep's previous semi-annual dividend of $0.17. ING Groep's payout ratio is currently 29.91%.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised shares of ING Groep from a "neutral" rating to a "buy" rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, ING Groep has a consensus rating of "Moderate Buy".

ING Groep Price Performance

The company has a fifty day moving average price of $18.09 and a two-hundred day moving average price of $17.06. The firm 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. 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 - Get Free Report) last issued its quarterly earnings data 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 net margin of 28.30% and a return on equity of 11.81%. Sell-side analysts forecast that ING Groep will post 2.14 earnings per share for the current year.

Remove Ads

Institutional Trading of ING Groep

Several institutional investors and hedge funds have recently bought and sold shares of the business. Huntington National Bank grew its position in ING Groep by 1.7% during the 4th quarter. Huntington National Bank now owns 35,030 shares of the financial services provider's stock worth $549,000 after purchasing an additional 597 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of ING Groep by 25.1% during the fourth quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock worth $48,000 after buying an additional 621 shares during the last quarter. SRS Capital Advisors Inc. increased its position in ING Groep by 20.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider's stock valued at $62,000 after acquiring an additional 665 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in ING Groep by 1.8% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 41,553 shares of the financial services provider's stock valued at $651,000 after acquiring an additional 716 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in ING Groep by 5.2% during the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider's stock valued at $229,000 after acquiring an additional 722 shares during the last quarter. Hedge funds and other institutional investors 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.