ING Group (NYSE:ING) Reaches New 52-Week High – Time to Buy?

ING Group, N.V. (NYSE:ING)’s share price hit a new 52-week high on Thursday . The stock traded as high as $27.78 and last traded at $27.7850, with a volume of 330645 shares changing hands. The stock had previously closed at $27.41.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Cfra Research upgraded ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. Citigroup upgraded ING Group to a “strong-buy” rating in a report on Friday, November 21st. Keefe, Bruyette & Woods downgraded ING Group from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, November 11th. Morgan Stanley upgraded shares of ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 2nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of ING Group in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy”.

ING Group Stock Up 1.3%

The business has a fifty day moving average of $25.43 and a 200 day moving average of $24.16. The firm has a market cap of $87.39 billion, a P/E ratio of 12.50, a P/E/G ratio of 1.95 and a beta of 0.81. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.99.

ING Group (NYSE:ING) last released its earnings results on Thursday, October 30th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. The firm had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $5.35 billion. ING Group had a return on equity of 11.57% and a net margin of 26.94%. On average, equities research analysts predict that ING Group, N.V. will post 2.14 EPS for the current year.

Institutional Trading of ING Group

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD bought a new position in ING Group in the first quarter valued at about $36,062,000. Citigroup Inc. raised its position in shares of ING Group by 249.9% in the 3rd quarter. Citigroup Inc. now owns 2,047,717 shares of the financial services provider’s stock worth $53,404,000 after acquiring an additional 1,462,527 shares in the last quarter. Millennium Management LLC lifted its stake in ING Group by 197.6% in the first quarter. Millennium Management LLC now owns 1,667,239 shares of the financial services provider’s stock valued at $32,661,000 after buying an additional 1,106,926 shares during the period. ABC Arbitrage SA lifted its position in shares of ING Group by 280.3% during the 3rd quarter. ABC Arbitrage SA now owns 900,936 shares of the financial services provider’s stock valued at $23,496,000 after acquiring an additional 664,063 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of ING Group by 7.3% during the 2nd quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock worth $191,681,000 after purchasing an additional 593,424 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors.

ING Group Company Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.