ING Groep (NYSE:ING) Plans Variable Dividend of $0.48

ING Groep (NYSE:ING) declared a Variable dividend on Thursday, September 23rd, Zacks reports. Stockholders of record on Tuesday, October 5th will be paid a dividend of 0.478 per share by the financial services provider on Tuesday, October 19th. The ex-dividend date is Monday, October 4th.

ING Groep has a payout ratio of 10.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ING Groep to earn $1.44 per share next year, which means the company should continue to be able to cover its $0.15 annual dividend with an expected future payout ratio of 10.4%.

Shares of ING opened at $14.01 on Friday. ING Groep has a 1 year low of $6.63 and a 1 year high of $14.28. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.93 and a quick ratio of 1.08. The company has a market capitalization of $54.65 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 0.38 and a beta of 1.96. The business has a 50-day moving average of $13.40 and a 200-day moving average of $13.07.

ING Groep (NYSE:ING) last issued its earnings results on Friday, August 6th. The financial services provider reported $0.45 earnings per share for the quarter. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.13 billion. ING Groep had a return on equity of 7.37% and a net margin of 22.56%. As a group, sell-side analysts anticipate that ING Groep will post 1.47 EPS for the current year.

A hedge fund recently raised its stake in ING Groep stock. Millennium Management LLC lifted its stake in shares of ING Groep (NYSE:ING) by 29.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,268 shares of the financial services provider’s stock after buying an additional 4,800 shares during the period. Millennium Management LLC’s holdings in ING Groep were worth $282,000 at the end of the most recent quarter. Institutional investors own 3.51% of the company’s stock.

A number of brokerages have weighed in on ING. Royal Bank of Canada reiterated an “outperform” rating on shares of ING Groep in a report on Monday, August 9th. Barclays downgraded ING Groep from an “equal weight” rating to an “underweight” rating in a report on Friday, June 4th. Morgan Stanley reiterated an “overweight” rating on shares of ING Groep in a report on Tuesday, August 17th. UBS Group reiterated a “buy” rating on shares of ING Groep in a report on Monday, August 9th. Finally, Zacks Investment Research raised ING Groep from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $14.01.

About ING Groep

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 and Wholesale Banking. The Retail Netherlands segment offers current and savings accounts, business lending, mortgages, and consumer lending.

Further Reading: Death Cross

Dividend History for ING Groep (NYSE:ING)

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