ING Group (NYSE:ING) Sets New 12-Month High – Still a Buy?

ING Group, N.V. (NYSE:ING)’s stock price 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 traded. The stock had previously closed at $28.11.

Analyst Upgrades and Downgrades

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

ING Group Stock Up 1.3%

The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.99. The company has a fifty day simple moving average of $25.90 and a 200-day simple moving average of $24.43. The firm has a market cap of $89.84 billion, a P/E ratio of 12.86, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81.

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, beating analysts’ consensus estimates of $0.64 by $0.06. The firm had revenue of $6.92 billion for 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 analysts anticipate that ING Group, N.V. will post 2.14 earnings per share for the current year.

Institutional Trading of ING Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Binnacle Investments Inc lifted its stake in shares of ING Group by 57.0% during the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock valued at $28,000 after buying an additional 395 shares in the last quarter. Advisors Asset Management Inc. increased its stake in ING Group by 0.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 63,613 shares of the financial services provider’s stock worth $1,659,000 after buying an additional 397 shares in the last quarter. AE Wealth Management LLC raised its holdings in ING Group by 2.5% during the third quarter. AE Wealth Management LLC now owns 16,862 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 410 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of ING Group by 5.3% in the second quarter. Geneos Wealth Management Inc. now owns 9,429 shares of the financial services provider’s stock valued at $206,000 after acquiring an additional 476 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC lifted its position in shares of ING Group by 5.3% in the third quarter. Parr Mcknight Wealth Management Group LLC now owns 9,678 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 485 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other 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.