ING Group (NYSE:ING) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of ING Group (NYSE:ING) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other research analysts have also commented on the company. Morgan Stanley reiterated an “equal weight” rating on shares of ING Group in a research report on Monday, March 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. Finally, Keefe, Bruyette & Woods upgraded shares of ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

ING Group Stock Performance

Shares of ING Group stock opened at $32.80 on Tuesday. The firm has a market cap of $95.46 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.07 and a beta of 0.85. The firm’s 50-day simple moving average is $30.95 and its 200-day simple moving average is $29.16. 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 has a 1 year low of $22.53 and a 1 year high of $33.35.

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

Institutional Investors Weigh In On ING Group

Several large investors have recently added to or reduced their stakes in ING. MidFirst Bank bought a new position in shares of ING Group during the fourth quarter worth about $25,000. YANKCOM Partnership grew its position in ING Group by 197.2% in the 4th quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 629 shares during the last quarter. Evergreen Advisors LLC acquired a new stake in shares of ING Group in the first quarter valued at approximately $28,000. Binnacle Investments Inc raised its holdings in shares of ING Group by 57.0% during the third 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 during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its position in shares of ING Group by 359.9% during 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 period. 4.49% of the stock is owned by institutional investors and hedge funds.

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.