ING Group (NYSE:ING) Reaches New 1-Year High – Here’s What Happened

ING Group, N.V. (NYSE:ING) reached a new 52-week high on Wednesday . The company traded as high as $33.46 and last traded at $33.3710, with a volume of 184324 shares traded. The stock had previously closed at $33.11.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ING. Zacks Research cut ING Group from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Keefe, Bruyette & Woods raised ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

ING Group Stock Down 2.7%

The stock has a market cap of $94.43 billion, a P/E ratio of 12.82, a PEG ratio of 0.83 and a beta of 0.85. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.73. The business has a 50-day simple moving average of $31.23 and a 200-day simple moving average of $29.32.

ING Group (NYSE:ING) last released its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $616.97 million for the quarter, compared to analyst estimates of $6.86 billion. ING Group had a net margin of 27.68% and a return on equity of 12.27%. Analysts expect that ING Group, N.V. will post 2.87 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in shares of ING Group by 28.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 717,950 shares of the financial services provider’s stock valued at $20,103,000 after purchasing an additional 157,111 shares during the last quarter. First Pacific Financial grew its holdings in ING Group by 665.4% in the 4th quarter. First Pacific Financial now owns 44,842 shares of the financial services provider’s stock valued at $1,256,000 after buying an additional 38,983 shares during the last quarter. US Bancorp DE grew its holdings in ING Group by 12.6% in the 4th quarter. US Bancorp DE now owns 429,176 shares of the financial services provider’s stock valued at $12,017,000 after buying an additional 48,174 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in ING Group by 885.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 411,022 shares of the financial services provider’s stock valued at $11,821,000 after buying an additional 369,310 shares during the last quarter. Finally, Themes Management Co LLC bought a new position in ING Group in the 4th quarter worth approximately $942,000. 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.