ING Group (NYSE:ING) Issues Quarterly Earnings Results

ING Group (NYSE:ING) announced its quarterly earnings data on Friday. The financial services provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.11), reports. The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $6.86 billion. ING Group had a return on equity of 12.27% and a net margin of 27.68%.

ING Group Stock Performance

Shares of NYSE:ING traded down $0.38 during trading on Friday, reaching $28.55. 2,122,179 shares of the company’s stock traded hands, compared to its average volume of 2,438,886. The stock has a market capitalization of $83.10 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 0.94 and a beta of 0.83. ING Group has a 12 month low of $20.07 and a 12 month high of $31.17. The company has a 50 day moving average of $27.39 and a 200-day moving average of $27.26. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.11 and a quick ratio of 1.11.

Hedge Funds Weigh In On ING Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ING. CIBC Private Wealth Group LLC increased its position in shares of ING Group by 4.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 8,734 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 361 shares during the period. Quadrant Capital Group LLC boosted its stake in ING Group by 0.4% during the fourth quarter. Quadrant Capital Group LLC now owns 106,170 shares of the financial services provider’s stock worth $2,973,000 after buying an additional 374 shares in the last quarter. Binnacle Investments Inc increased its holdings in ING Group by 57.0% in the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock valued at $28,000 after buying an additional 395 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in ING Group by 10.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,470 shares of the financial services provider’s stock valued at $125,000 after buying an additional 423 shares during the period. Finally, Commerce Bank raised its stake in shares of ING Group by 4.2% in the 4th quarter. Commerce Bank now owns 10,767 shares of the financial services provider’s stock valued at $301,000 after buying an additional 433 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ING has been the topic of several research analyst reports. Morgan Stanley reaffirmed an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. Zacks Research cut ING Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Wall Street Zen lowered ING Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Jefferies Financial Group began coverage on ING Group in a report on Tuesday, January 27th. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods raised ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

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.