ING Groep (NYSE:ING) Rating Increased to Strong-Buy at Citigroup

Citigroup upgraded shares of ING Groep (NYSE:ING - Free Report) to a strong-buy rating in a research report sent to investors on Thursday, Zacks.com reports.

Separately, Deutsche Bank Aktiengesellschaft cut ING Groep from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th.

ING Groep Price Performance

Shares of ING traded up $0.11 during trading hours on Thursday, reaching $17.38. 891,339 shares of the company's stock traded hands, compared to its average volume of 2,340,220. ING Groep has a 12 month low of $12.44 and a 12 month high of $18.72. The company has a current ratio of 0.95, a quick ratio of 1.12 and a debt-to-equity ratio of 2.54. The stock has a market cap of $60.80 billion, a PE ratio of 7.69 and a beta of 1.52. The firm's 50 day simple moving average is $17.77 and its 200-day simple moving average is $17.45.

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

ING Groep Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Financial Management Professionals Inc. lifted its stake in shares of ING Groep by 67.8% in the 1st quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 662 shares during the last quarter. Summit Securities Group LLC bought a new stake in ING Groep in the second quarter valued at approximately $31,000. Rothschild Investment LLC purchased a new stake in shares of ING Groep during the second quarter valued at approximately $31,000. Mather Group LLC. boosted its stake in shares of 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. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of ING Groep in the second quarter worth approximately $38,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Company Profile

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.