ING Group (NYSE:ING) Sets New 1-Year High – What’s Next?

ING Group, N.V. (NYSE:ING) hit a new 52-week high during trading on Thursday . The company traded as high as $32.40 and last traded at $32.3410, with a volume of 293170 shares trading hands. The stock had previously closed at $31.48.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ING. Keefe, Bruyette & Woods raised ING Group from a “moderate sell” rating to a “hold” rating in a report on Thursday, March 26th. Wall Street Zen downgraded shares of ING Group from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Zacks Research lowered shares of ING Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. Finally, Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ING Group has a consensus rating of “Moderate Buy”.

ING Group Stock Up 2.5%

The stock has a fifty day moving average price of $30.06 and a 200 day moving average price of $28.80. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $93.88 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.01 and a beta of 0.85.

ING Group (NYSE:ING) last released its quarterly earnings data on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. On average, research analysts forecast that ING Group, N.V. will post 2.77 earnings per share for the current year.

Institutional Investors Weigh In On ING Group

A number of institutional investors and hedge funds have recently modified their holdings of ING. Bank of America Corp DE grew its stake in ING Group by 7.3% during the second quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock valued at $191,681,000 after acquiring an additional 593,424 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in ING Group by 2.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 7,804,829 shares of the financial services provider’s stock worth $218,535,000 after acquiring an additional 191,101 shares during the period. Northern Trust Corp lifted its stake in ING Group by 1.7% in the 3rd quarter. Northern Trust Corp now owns 4,456,398 shares of the financial services provider’s stock worth $116,223,000 after purchasing an additional 73,959 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in ING Group by 61.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,700,573 shares of the financial services provider’s stock valued at $75,616,000 after purchasing an additional 1,032,177 shares during the period. Finally, Quantinno Capital Management LP grew its position in shares of ING Group by 9.5% during the 1st quarter. Quantinno Capital Management LP now owns 1,803,670 shares of the financial services provider’s stock valued at $46,986,000 after purchasing an additional 156,461 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.

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.