ING Group, N.V. (NYSE:ING) Declares Annual Dividend of $0.20

ING Group, N.V. (NYSE:ING) announced an annual dividend on Friday, December 26th. Investors of record on Thursday, January 8th will be paid a dividend of 0.2009 per share by the financial services provider on Friday, January 23rd. This represents a dividend yield of 69.0%. The ex-dividend date is Thursday, January 8th.

ING Group has raised its dividend payment by an average of 0.1%per year over the last three years. ING Group has a dividend payout ratio of 26.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ING Group to earn $2.56 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 26.6%.

ING Group Stock Up 0.6%

ING stock opened at $28.94 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.99. The company’s 50-day moving average price is $26.51 and its 200 day moving average price is $24.84. ING Group has a 52 week low of $15.53 and a 52 week high of $29.02. The company has a market cap of $84.21 billion, a P/E ratio of 13.03, a P/E/G ratio of 1.87 and a beta of 0.82.

ING Group (NYSE:ING) last issued its earnings results on Thursday, October 30th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. ING Group had a net margin of 26.94% and a return on equity of 11.57%. The company had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $5.35 billion. On average, research analysts expect that ING Group will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ING Group

Hedge funds have recently bought and sold shares of the stock. Binnacle Investments Inc lifted its position in ING Group by 57.0% in the third quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 395 shares during the period. Advisors Asset Management Inc. increased its position in shares of ING Group by 0.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 63,613 shares of the financial services provider’s stock valued at $1,659,000 after purchasing an additional 397 shares during the period. AE Wealth Management LLC raised its stake in shares of ING Group by 2.5% in the 3rd quarter. AE Wealth Management LLC now owns 16,862 shares of the financial services provider’s stock worth $440,000 after buying an additional 410 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of ING Group by 5.3% in the second quarter. Geneos Wealth Management Inc. now owns 9,429 shares of the financial services provider’s stock valued at $206,000 after buying an additional 476 shares during the period. Finally, Parr Mcknight Wealth Management Group LLC lifted its holdings in shares of ING Group by 5.3% in the third quarter. Parr Mcknight Wealth Management Group LLC now owns 9,678 shares of the financial services provider’s stock valued at $252,000 after buying an additional 485 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

About ING Group

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.