ING Group (NYSE:ING) Downgraded by Wall Street Zen to “Hold”

ING Group (NYSE:ING) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Other equities research analysts have also recently issued reports about the stock. Zacks Research raised shares of ING Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Jefferies Financial Group started coverage on shares of ING Group in a research report on Tuesday, January 27th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded ING Group from a “hold” rating to a “buy” rating in a report on Monday, February 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research note on Monday, December 29th. Finally, Citigroup upgraded ING Group to a “strong-buy” rating in a report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

ING Group Stock Down 2.7%

NYSE:ING opened at $25.53 on Friday. The company has a market cap of $74.31 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 0.86 and a beta of 0.78. ING Group has a twelve month low of $16.47 and a twelve month high of $31.17. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 2.73. The stock has a fifty day simple moving average of $28.77 and a 200-day simple moving average of $26.72.

ING Group (NYSE:ING) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. The firm had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $6.67 billion. ING Group had a net margin of 27.50% and a return on equity of 12.05%. Analysts anticipate that ING Group will post 2.14 EPS for the current year.

Hedge Funds Weigh In On ING Group

A number of hedge funds and other institutional investors have recently modified their holdings of ING. Abound Wealth Management lifted its holdings in ING Group by 2,757.6% during the third quarter. Abound Wealth Management now owns 943 shares of the financial services provider’s stock worth $25,000 after buying an additional 910 shares during the period. MidFirst Bank bought a new stake in ING Group during the 4th quarter valued at $25,000. YANKCOM Partnership increased its holdings in shares of ING Group by 197.2% in the 4th quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 629 shares during the period. Binnacle Investments Inc increased its holdings in shares of ING Group by 57.0% in the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 395 shares during the period. Finally, Transamerica Financial Advisors LLC raised its position in shares of ING Group by 359.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 871 shares in the last quarter. 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.