ING Group (NYSE:ING) Rating Increased to Strong-Buy at Zacks Research

ING Group (NYSE:ING) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts have also commented on the stock. Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft upgraded ING Group from a “hold” rating to a “buy” rating in a report on Monday. Citigroup raised ING Group to a “strong-buy” rating in a research note on Friday, November 21st. Jefferies Financial Group started coverage on ING Group in a report on Tuesday, January 27th. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods cut ING Group from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, November 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, ING Group has an average rating of “Buy”.

ING Group Trading Up 2.0%

NYSE:ING opened at $30.95 on Monday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50-day simple moving average is $28.08 and its 200-day simple moving average is $25.86. ING Group has a fifty-two week low of $16.22 and a fifty-two week high of $31.14. The stock has a market capitalization of $90.07 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 1.50 and a beta of 0.80.

ING Group (NYSE:ING) last posted its earnings results on Thursday, January 29th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. ING Group had a return on equity of 12.26% and a net margin of 27.50%.The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Sell-side analysts expect that ING Group will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ING. NewEdge Wealth LLC lifted its stake in ING Group by 20.3% in the 4th quarter. NewEdge Wealth LLC now owns 45,733 shares of the financial services provider’s stock valued at $1,281,000 after purchasing an additional 7,712 shares during the last quarter. QRG Capital Management Inc. raised its stake in ING Group by 1.0% in the fourth quarter. QRG Capital Management Inc. now owns 178,924 shares of the financial services provider’s stock valued at $5,010,000 after buying an additional 1,691 shares during the period. Truist Financial Corp lifted its position in shares of ING Group by 2.5% in the fourth quarter. Truist Financial Corp now owns 149,565 shares of the financial services provider’s stock valued at $4,188,000 after buying an additional 3,620 shares during the last quarter. Benjamin Edwards Inc. lifted its position in shares of ING Group by 21.8% in the fourth quarter. Benjamin Edwards Inc. now owns 51,803 shares of the financial services provider’s stock valued at $1,451,000 after buying an additional 9,269 shares during the last quarter. Finally, Capital Investment Counsel LLC boosted its stake in shares of ING Group by 1.0% during the 4th quarter. Capital Investment Counsel LLC now owns 272,776 shares of the financial services provider’s stock worth $7,638,000 after acquiring an additional 2,766 shares during the period. 4.49% of the stock is currently owned by institutional investors.

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.