ING Group (NYSE:ING) Hits New 12-Month High – Here’s What Happened

ING Group, N.V. (NYSE:ING) reached a new 52-week high during trading on Wednesday . The company traded as high as $28.20 and last traded at $28.1620, with a volume of 1549163 shares. The stock had previously closed at $28.11.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods lowered ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Morgan Stanley raised ING Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, September 2nd. Citigroup upgraded ING Group to a “strong-buy” rating in a research note on Friday, November 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of ING Group in a report on Monday, December 15th. Finally, Cfra Research raised shares of ING Group from a “hold” rating to a “moderate buy” rating in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

ING Group Price Performance

The firm has a market capitalization of $88.64 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 2.00 and a beta of 0.81. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.11 and a current ratio of 1.11. The business has a 50 day simple moving average of $25.73 and a two-hundred day simple moving average of $24.37.

ING Group (NYSE:ING) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.06. The company had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $5.35 billion. ING Group had a net margin of 26.94% and a return on equity of 11.57%. On average, sell-side analysts expect that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

Institutional Trading of ING Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in ING Group by 7.3% in the second quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock worth $191,681,000 after acquiring an additional 593,424 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in ING Group by 2.4% during the first quarter. Goldman Sachs Group Inc. now owns 7,894,501 shares of the financial services provider’s stock worth $154,653,000 after purchasing an additional 185,506 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of 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. Todd Asset Management LLC increased its position in shares of ING Group by 1.0% during the 3rd quarter. Todd Asset Management LLC now owns 2,795,403 shares of the financial services provider’s stock valued at $72,904,000 after purchasing an additional 26,639 shares during the last quarter. Finally, Citigroup Inc. increased its position in shares of ING Group by 249.9% during the 3rd quarter. Citigroup Inc. now owns 2,047,717 shares of the financial services provider’s stock valued at $53,404,000 after purchasing an additional 1,462,527 shares during the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

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.