ING Group (NYSE:ING) Hits New 52-Week High – Here’s What Happened

Shares of ING Group, N.V. (NYSE:ING) hit a new 52-week high on Tuesday . The stock traded as high as $31.40 and last traded at $31.37, with a volume of 196078 shares trading hands. The stock had previously closed at $30.50.

Analyst Upgrades and Downgrades

ING has been the subject of several analyst reports. Wall Street Zen downgraded shares of ING Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Deutsche Bank Aktiengesellschaft upgraded shares of ING Group from a “hold” rating to a “buy” rating in a research note on Monday, February 2nd. Morgan Stanley restated an “equal weight” rating on shares of ING Group in a research note on Monday, March 23rd. 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. Finally, Zacks Research downgraded shares of ING Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. One 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 stock. According to MarketBeat, ING Group currently has a consensus rating of “Moderate Buy”.

ING Group Stock Down 0.7%

The stock has a market capitalization of $90.49 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.01 and a beta of 0.83. The firm’s fifty day moving average is $28.20 and its 200-day moving average is $27.96. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.11 and a quick ratio of 1.11.

ING Group (NYSE:ING) last posted its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The firm had revenue of $616.97 million for the quarter, compared to analysts’ expectations of $6.86 billion. ING Group had a net margin of 27.68% and a return on equity of 12.27%. On average, sell-side analysts predict that ING Group, N.V. will post 2.76 earnings per share for the current year.

Institutional Trading of ING Group

Institutional investors have recently added to or reduced their stakes in the stock. MidFirst Bank acquired a new stake in ING Group in the fourth quarter valued at $25,000. YANKCOM Partnership raised its holdings in ING Group by 197.2% in the fourth quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 629 shares in the last quarter. Evergreen Advisors LLC acquired a new stake in ING Group in the first quarter valued at $28,000. Binnacle Investments Inc raised its holdings 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 valued at $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% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 871 shares during the last quarter. 4.49% of the stock is 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.