ING Group (NYSE:ING) Upgraded to Hold at Zacks Research

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

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, ING Group presently has a consensus rating of “Moderate Buy”.

ING Group Stock Performance

ING Group stock opened at $33.25 on Monday. ING Group has a fifty-two week low of $22.53 and a fifty-two week high of $33.60. The company has a market capitalization of $95.11 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 0.83 and a beta of 0.85. The stock has a fifty day moving average of $31.45 and a two-hundred day moving average of $29.42. 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 (NYSE:ING) last issued its quarterly earnings data on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The business had revenue of $616.97 million for 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%. On average, analysts anticipate that ING Group will post 2.87 EPS for the current fiscal year.

Institutional Trading of ING Group

Several hedge funds and other institutional investors have recently bought and sold shares of ING. Redhawk Wealth Advisors Inc. lifted its stake in shares of ING Group by 3.8% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 61,807 shares of the financial services provider’s stock worth $1,940,000 after purchasing an additional 2,255 shares during the period. Fulton Bank N.A. purchased a new stake in shares of ING Group in the second quarter valued at $349,000. Contravisory Investment Management Inc. grew its position in shares of ING Group by 3.5% in the second quarter. Contravisory Investment Management Inc. now owns 10,309 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 349 shares during the period. Valeo Financial Advisors LLC increased its stake in ING Group by 23.3% in the second quarter. Valeo Financial Advisors LLC now owns 12,642 shares of the financial services provider’s stock valued at $397,000 after purchasing an additional 2,386 shares during the last quarter. Finally, Gradient Investments LLC increased its stake in ING Group by 5.5% in the second quarter. Gradient Investments LLC now owns 191,552 shares of the financial services provider’s stock valued at $6,011,000 after purchasing an additional 10,016 shares during 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.