ING Group (NYSE:ING) Reaches New 12-Month High – Here’s Why

ING Group, N.V. (NYSE:ING)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $31.62 and last traded at $31.5980, with a volume of 528165 shares changing hands. The stock had previously closed at $31.13.

Analyst Ratings Changes

Several brokerages recently issued reports on ING. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. Keefe, Bruyette & Woods upgraded ING Group from a “moderate sell” rating to a “hold” rating in a research note on Thursday, March 26th. Wall Street Zen cut ING Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Zacks Research cut ING Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Morgan Stanley reaffirmed an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, ING Group currently has a consensus rating of “Moderate Buy”.

ING Group Stock Performance

The business’s fifty day moving average price is $29.46 and its 200-day moving average price is $28.42. The stock has a market cap of $92.10 billion, a PE ratio of 12.51, a P/E/G ratio of 0.98 and a beta of 0.84. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.11 and a current ratio of 1.11.

ING Group (NYSE:ING) last issued its quarterly earnings data on Friday, May 1st. The financial services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. ING Group had a net margin of 27.68% and a return on equity of 12.27%. The company had revenue of $616.97 million for the quarter, compared to the consensus estimate of $6.86 billion. As a group, equities research analysts forecast that ING Group, N.V. will post 2.77 EPS for the current fiscal year.

Hedge Funds Weigh In On ING Group

Institutional investors have recently made changes to their positions in the business. LFG Wealth Partners LLC increased its holdings in ING Group by 2.3% during the first quarter. LFG Wealth Partners LLC now owns 55,880 shares of the financial services provider’s stock valued at $1,456,000 after buying an additional 1,249 shares during the last quarter. Parallel Advisors LLC raised its stake in ING Group by 5.2% during the 1st quarter. Parallel Advisors LLC now owns 21,919 shares of the financial services provider’s stock worth $571,000 after acquiring an additional 1,085 shares during the period. NewEdge Advisors LLC increased its stake in shares of ING Group by 12.1% in the first quarter. NewEdge Advisors LLC now owns 74,579 shares of the financial services provider’s stock worth $1,943,000 after purchasing an additional 8,039 shares in the last quarter. Bank of America Corp DE raised its holdings in ING Group by 1.0% during the first quarter. Bank of America Corp DE now owns 6,451,137 shares of the financial services provider’s stock valued at $168,052,000 after acquiring an additional 61,919 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in ING Group by 14.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 14,582 shares of the financial services provider’s stock worth $380,000 after purchasing an additional 1,844 shares in the last quarter. 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.