ING Groep (ING) To Go Ex-Dividend on April 24th

ING Groep (NYSE:ING) announced a Semi-Annual dividend on Thursday, March 7th, Zacks reports. Stockholders of record on Thursday, April 25th will be given a dividend of 0.697 per share by the financial services provider on Friday, May 10th. This represents a dividend yield of 6.8%. The ex-dividend date of this dividend is Wednesday, April 24th. This is a positive change from ING Groep’s previous Semi-Annual dividend of $0.43.

ING Groep has a dividend payout ratio of 75.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect ING Groep to earn $2.11 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 77.7%.

ING Groep Price Performance

ING stock opened at $16.20 on Monday. ING Groep has a 52-week low of $11.78 and a 52-week high of $17.18. The stock’s fifty day simple moving average is $15.16 and its 200-day simple moving average is $14.31. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.24. The stock has a market capitalization of $60.37 billion, a price-to-earnings ratio of 7.33 and a beta of 1.58.

ING Groep (NYSE:ING) last issued its earnings results on Thursday, February 1st. The financial services provider reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). ING Groep had a net margin of 32.29% and a return on equity of 13.36%. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $6.15 billion. Equities research analysts expect that ING Groep will post 1.91 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ING. Bank of America Corp DE lifted its stake in shares of ING Groep by 64.0% during the first quarter. Bank of America Corp DE now owns 6,579,854 shares of the financial services provider’s stock worth $78,103,000 after purchasing an additional 2,567,427 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of ING Groep by 4,412.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,823,310 shares of the financial services provider’s stock worth $19,017,000 after purchasing an additional 1,782,900 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of ING Groep by 27.1% during the second quarter. Goldman Sachs Group Inc. now owns 7,851,043 shares of the financial services provider’s stock worth $77,882,000 after purchasing an additional 1,673,262 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of ING Groep during the first quarter worth about $9,905,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of ING Groep by 934.1% during the third quarter. JPMorgan Chase & Co. now owns 914,504 shares of the financial services provider’s stock worth $12,053,000 after purchasing an additional 826,067 shares in the last quarter. Institutional investors and hedge funds 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.