ING Group (NYSE:ING) Stock Rating Lowered by Zacks Research

ING Group (NYSE:ING) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts also recently commented on ING. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a report on Friday, May 29th. Keefe, Bruyette & Woods upgraded ING Group from a “moderate sell” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Morgan Stanley restated an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

ING Group Price Performance

ING Group stock opened at $33.31 on Tuesday. ING Group has a 52-week low of $22.40 and a 52-week high of $33.36. The firm has a market capitalization of $96.93 billion, a price-to-earnings ratio of 13.16, a PEG ratio of 1.05 and a beta of 0.85. The company has a fifty day simple moving average of $30.89 and a 200-day simple moving average of $29.13. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.73.

ING Group (NYSE:ING) last posted its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The firm had revenue of $616.97 million for the quarter, compared to the consensus estimate of $6.86 billion. ING Group had a net margin of 27.68% and a return on equity of 12.27%. On average, equities analysts anticipate that ING Group will post 2.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ING. Amundi acquired a new position in shares of ING Group in the 1st quarter worth approximately $760,000. AQR Capital Management LLC grew its stake in ING Group by 27.0% during the 1st quarter. AQR Capital Management LLC now owns 87,240 shares of the financial services provider’s stock worth $1,709,000 after purchasing an additional 18,562 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in ING Group by 5.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 21,329 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 1,094 shares during the period. Sivia Capital Partners LLC raised its position in ING Group by 19.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 16,823 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 2,745 shares in the last quarter. Finally, Invesco Ltd. raised its position in ING Group by 28.9% in the 2nd quarter. Invesco Ltd. now owns 47,534 shares of the financial services provider’s stock valued at $1,040,000 after purchasing an additional 10,650 shares in the last quarter. Institutional investors and hedge funds 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.