ING Groep (NYSE:ING) Shares Gap Up – Still a Buy?

Shares of ING Groep (NYSE:ING) gapped up prior to trading on Tuesday . 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 trading hands.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, November 26th.

ING Groep Stock Performance

The firm has a market cap of $71.03 billion, a P/E ratio of 9.49, a PEG ratio of 6.42 and a beta of 1.44. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s 50-day moving average is $17.79 and its 200 day moving average is $16.98.

ING Groep (NYSE:ING) last announced its quarterly earnings results 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%. On average, research analysts predict that ING Groep will post 2.14 earnings per share for the current year.

ING Groep Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were issued a $0.1667 dividend. The ex-dividend date of this dividend was Monday, January 13th. This represents a dividend yield of 6.4%. ING Groep’s dividend payout ratio (DPR) is 29.91%.

Institutional Investors Weigh In On ING Groep

Several institutional investors have recently bought and sold shares of ING. Wealth Enhancement Advisory Services LLC grew its position in ING Groep by 129.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 166,677 shares of the financial services provider’s stock valued at $2,612,000 after purchasing an additional 94,080 shares in the last quarter. Challenger Wealth Management acquired a new stake in shares of ING Groep in the fourth quarter valued at about $329,000. Forum Financial Management LP raised its holdings in ING Groep by 10.4% during the fourth quarter. Forum Financial Management LP now owns 47,283 shares of the financial services provider’s stock worth $741,000 after acquiring an additional 4,467 shares in the last quarter. Parr Mcknight Wealth Management Group LLC acquired a new position in ING Groep during the fourth quarter valued at approximately $195,000. Finally, Waverly Advisors LLC bought a new position in ING Groep in the fourth quarter valued at approximately $398,000. Institutional investors own 4.49% of the company’s stock.

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.