ING Group (NYSE:ING) Hits New 12-Month High – Here’s What Happened

ING Group, N.V. (NYSE:ING) hit a new 52-week high on Tuesday . The company traded as high as $32.22 and last traded at $32.1720, with a volume of 4418265 shares. The stock had previously closed at $31.36.

Analysts Set New Price Targets

Several research firms recently issued reports on ING. Wall Street Zen downgraded ING Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Zacks Research downgraded ING Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Keefe, Bruyette & Woods upgraded shares of ING Group from a “moderate sell” rating to a “hold” rating in a research note on Thursday, March 26th. Morgan Stanley reaffirmed an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, ING Group presently has an average rating of “Moderate Buy”.

ING Group Price Performance

The company has a fifty day simple moving average of $29.77 and a two-hundred day simple moving average of $28.58. The stock has a market capitalization of $93.63 billion, a price-to-earnings ratio of 12.72, a PEG ratio of 1.01 and a beta of 0.84. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.11 and a current ratio of 1.11.

ING Group (NYSE:ING) last released its earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. ING Group had a return on equity of 12.27% and a net margin of 27.68%.The company had revenue of $616.97 million for the quarter, compared to analyst estimates of $6.86 billion. As a group, equities research analysts expect that ING Group, N.V. will post 2.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ING Group

Large investors have recently bought and sold shares of the company. MidFirst Bank acquired a new position in shares of ING Group in the 4th quarter valued at approximately $25,000. YANKCOM Partnership lifted its holdings in shares of ING Group by 197.2% during the 4th quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 629 shares during the period. Evergreen Advisors LLC acquired a new stake in shares of ING Group during the 1st quarter worth approximately $28,000. Binnacle Investments Inc boosted its position in shares of ING Group by 57.0% during the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 395 shares in the last quarter. Finally, Transamerica Financial Advisors LLC increased its stake in ING Group by 359.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 871 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Group Company Profile

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.