ING Group (NYSE:ING) Raised to “Hold” at Keefe, Bruyette & Woods

ING Group (NYSE:ING) was upgraded by investment analysts at Keefe, Bruyette & Woods from a “moderate sell” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group began coverage on ING Group in a research note on Tuesday, January 27th. They issued a “hold” rating on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of ING Group from a “hold” rating to a “buy” rating in a research note on Monday, February 2nd. Wall Street Zen cut shares of ING Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Zacks Research upgraded shares of ING Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, ING Group presently has an average rating of “Moderate Buy”.

ING Group Stock Down 1.3%

ING Group stock opened at $24.81 on Thursday. 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 firm has a market cap of $72.19 billion, a P/E ratio of 10.38, a P/E/G ratio of 0.82 and a beta of 0.78. The business has a fifty day moving average of $28.13 and a two-hundred day moving average of $26.82. ING Group has a twelve month low of $16.47 and a twelve month high of $31.17.

ING Group (NYSE:ING) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. The business had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.67 billion. ING Group had a return on equity of 12.05% and a net margin of 27.50%. On average, analysts forecast that ING Group will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ING Group

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