Barclays Lowers ING Groep (NYSE:ING) to Equal Weight

Barclays downgraded shares of ING Groep (NYSE:ING - Free Report) from an overweight rating to an equal weight rating in a report released on Tuesday, Marketbeat.com reports.

Several other research analysts also recently commented on the company. Citigroup raised ING Groep to a "strong-buy" rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut shares of ING Groep from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th.

ING Groep Stock Performance

ING traded down $0.30 during midday trading on Tuesday, hitting $16.90. 1,910,906 shares of the company traded hands, compared to its average volume of 2,337,337. The company's 50-day moving average is $17.79 and its 200 day moving average is $17.46. The company has a quick ratio of 1.12, a current ratio of 0.95 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $59.12 billion, a PE ratio of 7.48 and a beta of 1.52. ING Groep has a 52 week low of $12.44 and a 52 week high of $18.72.

ING Groep (NYSE:ING - Get Free Report) last issued its earnings results on Thursday, August 1st. The financial services provider reported $0.58 earnings per share (EPS) for the quarter. The company had revenue of $6.15 billion for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same quarter in the prior year, the business posted $0.65 EPS. On average, research analysts expect that ING Groep will post 2.04 EPS for the current year.

ING Groep Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Monday, August 19th. Stockholders of record on Thursday, August 8th were issued a dividend of $0.8143 per share. This represents a dividend yield of 5.9%. This is a boost from ING Groep's previous semi-annual dividend of $0.70. The ex-dividend date was Thursday, August 8th. ING Groep's dividend payout ratio is 28.32%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Financial Management Professionals Inc. lifted its position in ING Groep by 67.8% during the first quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 662 shares during the last quarter. Summit Securities Group LLC purchased a new position in ING Groep in the second quarter worth about $31,000. Rothschild Investment LLC bought a new stake in ING Groep during the second quarter worth approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in ING Groep during the second quarter worth approximately $38,000. Finally, Mather Group LLC. raised its position in ING Groep by 57.3% during the third quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 782 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

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.