ING Groep (NYSE:ING) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of ING Groep (NYSE:INGGet Rating) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. Morgan Stanley boosted their price target on shares of ING Groep from €14.00 ($15.05) to €16.00 ($17.20) and gave the stock an overweight rating in a research report on Friday, November 18th. JPMorgan Chase & Co. boosted their target price on shares of ING Groep from €13.00 ($13.98) to €13.40 ($14.41) in a research report on Wednesday, December 7th. Finally, Societe Generale downgraded shares of ING Groep from a buy rating to a hold rating in a research report on Friday, February 3rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, ING Groep currently has a consensus rating of Moderate Buy and an average target price of $13.91.

ING Groep Price Performance

ING opened at $11.21 on Thursday. ING Groep has a fifty-two week low of $8.14 and a fifty-two week high of $14.72. The company’s 50 day moving average price is $13.62 and its two-hundred day moving average price is $11.62.

ING Groep Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Friday, May 12th. Shareholders of record on Thursday, April 27th will be issued a dividend of $0.4101 per share. This is an increase from ING Groep’s previous semi-annual dividend of $0.07. The ex-dividend date is Wednesday, April 26th. This represents a yield of 4.6%. ING Groep’s dividend payout ratio is presently 14.71%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. MUFG Securities EMEA plc bought a new stake in shares of ING Groep in the 4th quarter worth $92,588,000. Fisher Asset Management LLC grew its stake in shares of ING Groep by 3.7% in the 4th quarter. Fisher Asset Management LLC now owns 53,466,436 shares of the financial services provider’s stock worth $650,687,000 after acquiring an additional 1,913,993 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new stake in shares of ING Groep in the 3rd quarter worth $15,675,000. Arrowstreet Capital Limited Partnership grew its stake 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 worth $19,017,000 after acquiring an additional 1,782,900 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake 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 worth $77,882,000 after acquiring an additional 1,673,262 shares in the last quarter. Institutional investors and hedge funds own 3.99% of the company’s stock.

ING Groep Company Profile

(Get Rating)

ING Groep NV engages in the provision of banking, investments, life and non-life insurance, and retirement and asset management services. It operates through the following segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line. The Retail Netherlands segment offers current and savings accounts, business lending, mortgages, and consumer lending.

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Analyst Recommendations for ING Groep (NYSE:ING)

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