Short Interest in ING Groep (NYSE:ING) Expands By 184.3%

ING Groep (NYSE:ING) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 5,430,000 shares, a growth of 184.3% from the February 28th total of 1,910,000 shares. Based on an average daily trading volume, of 2,940,000 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded shares of ING Groep from a “neutral” rating to a “buy” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

ING Groep Stock Up 0.2 %

Shares of NYSE ING traded up $0.05 during mid-day trading on Thursday, reaching $20.11. The company had a trading volume of 1,696,357 shares, compared to its average volume of 2,263,563. The stock has a fifty day moving average of $17.94 and a two-hundred day moving average of $17.02. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. ING Groep has a 12-month low of $15.09 and a 12-month high of $20.79. The company has a market capitalization of $70.33 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 6.42 and a beta of 1.44.

ING Groep (NYSE:ING) last released 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%. As a group, equities research analysts expect that ING Groep will post 2.14 EPS for the current year.

ING Groep Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 25th will be issued a dividend of $0.6526 per share. This is an increase from ING Groep’s previous semi-annual dividend of $0.17. This represents a dividend yield of 5.1%. The ex-dividend date is Friday, April 25th. ING Groep’s dividend payout ratio is currently 29.91%.

Institutional Investors Weigh In On ING Groep

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp increased its holdings in shares of ING Groep by 48.2% during the 4th quarter. Northern Trust Corp now owns 4,161,116 shares of the financial services provider’s stock worth $65,205,000 after purchasing an additional 1,353,054 shares during the period. Royal Bank of Canada lifted its position in shares of ING Groep by 0.8% during the 4th quarter. Royal Bank of Canada now owns 3,946,653 shares of the financial services provider’s stock worth $61,844,000 after buying an additional 31,963 shares during the period. Natixis Advisors LLC lifted its holdings in ING Groep by 2.3% during the 4th quarter. Natixis Advisors LLC now owns 3,381,569 shares of the financial services provider’s stock valued at $52,989,000 after purchasing an additional 74,771 shares during the last quarter. Todd Asset Management LLC boosted its holdings in shares of ING Groep by 1.6% in the 4th quarter. Todd Asset Management LLC now owns 2,771,941 shares of the financial services provider’s stock worth $43,436,000 after acquiring an additional 42,851 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of ING Groep by 7.4% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 1,774,430 shares of the financial services provider’s stock worth $27,806,000 after purchasing an additional 121,620 shares during the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

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.