Jefferies Group Weighs in on ING Group, N.V.’s FY2017 Earnings (ING)

ING Group, N.V. (NYSE:ING) – Analysts at Jefferies Group boosted their FY2017 EPS estimates for ING Group, N.V. in a note issued to investors on Friday. Jefferies Group analyst M. Timat now anticipates that the financial services provider will earn $1.55 per share for the year, up from their prior estimate of $1.46. Jefferies Group also issued estimates for ING Group, N.V.’s FY2018 earnings at $1.61 EPS, FY2019 earnings at $1.80 EPS and FY2020 earnings at $1.98 EPS.

Several other equities analysts also recently commented on the stock. HSBC Holdings plc downgraded shares of ING Group, N.V. from a “buy” rating to a “hold” rating and set a $15.00 price target on the stock. in a report on Wednesday, May 31st. Deutsche Bank AG reiterated a “buy” rating on shares of ING Group, N.V. in a report on Tuesday, June 20th. ValuEngine upgraded shares of ING Group, N.V. from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 6th. BidaskClub upgraded shares of ING Group, N.V. from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 8th. Finally, UBS AG reiterated a “buy” rating on shares of ING Group, N.V. in a report on Tuesday, September 5th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. ING Group, N.V. presently has an average rating of “Buy” and an average target price of $17.00.

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Shares of ING Group, N.V. (NYSE:ING) opened at 17.86 on Monday. The company has a 50-day moving average price of $18.13 and a 200-day moving average price of $16.72. The company has a market cap of $69.37 billion, a P/E ratio of 11.98 and a beta of 1.14. ING Group, N.V. has a 12-month low of $11.76 and a 12-month high of $18.94.

A number of institutional investors have recently added to or reduced their stakes in ING. Fisher Asset Management LLC boosted its position in ING Group, N.V. by 1,155.1% in the 2nd quarter. Fisher Asset Management LLC now owns 36,009,342 shares of the financial services provider’s stock valued at $626,202,000 after buying an additional 33,140,211 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in ING Group, N.V. by 161.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 7,592,428 shares of the financial services provider’s stock valued at $132,032,000 after buying an additional 4,687,122 shares during the period. Wells Fargo & Company MN boosted its position in ING Group, N.V. by 155.0% in the 2nd quarter. Wells Fargo & Company MN now owns 2,858,329 shares of the financial services provider’s stock valued at $49,706,000 after buying an additional 1,737,235 shares during the period. Schafer Cullen Capital Management Inc. boosted its position in ING Group, N.V. by 12.3% in the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 4,589,005 shares of the financial services provider’s stock valued at $79,803,000 after buying an additional 504,416 shares during the period. Finally, Bank of America Corp DE lifted its position in shares of ING Group, N.V. by 5.4% in the 1st quarter. Bank of America Corp DE now owns 8,039,257 shares of the financial services provider’s stock worth $121,313,000 after purchasing an additional 410,416 shares during the period. 2.86% of the stock is owned by institutional investors.

The business also recently disclosed a None dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 14th were given a $0.232 dividend. This represents a yield of 3.05%. This is a boost from ING Group, N.V.’s previous None dividend of $0.22. The ex-dividend date was Thursday, August 10th. ING Group, N.V.’s payout ratio is 47.29%.

ING Group, N.V. Company Profile

ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.

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