ING Group (NYSE:ING) Posts Earnings Results, Misses Estimates By $0.11 EPS

ING Group (NYSE:ING) issued its earnings results on Friday. The financial services provider reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.11), reports. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $6.86 billion. ING Group had a net margin of 27.68% and a return on equity of 12.27%.

ING Group Stock Performance

ING stock traded down $0.38 during midday trading on Friday, hitting $28.55. 2,122,179 shares of the company traded hands, compared to its average volume of 2,438,886. ING Group has a twelve month low of $20.07 and a twelve month high of $31.17. 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 business has a 50 day simple moving average of $27.39 and a 200-day simple moving average of $27.26. The stock has a market capitalization of $83.10 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 0.94 and a beta of 0.83.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ING shares. Deutsche Bank Aktiengesellschaft upgraded ING Group from a “hold” rating to a “buy” rating in a report on Monday, February 2nd. Zacks Research downgraded ING Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Keefe, Bruyette & Woods upgraded ING Group from a “moderate sell” rating to a “hold” rating in a report on Thursday, March 26th. Wall Street Zen downgraded ING Group from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Morgan Stanley restated an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, ING Group presently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On ING Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Compound Planning Inc. grew its holdings in ING Group by 11.1% during the fourth quarter. Compound Planning Inc. now owns 58,377 shares of the financial services provider’s stock valued at $1,635,000 after purchasing an additional 5,815 shares during the last quarter. Invesco Ltd. grew its holdings in ING Group by 21.4% during the fourth quarter. Invesco Ltd. now owns 54,220 shares of the financial services provider’s stock valued at $1,518,000 after purchasing an additional 9,542 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in ING Group by 10.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 110,516 shares of the financial services provider’s stock valued at $3,094,000 after purchasing an additional 10,335 shares during the last quarter. Beacon Pointe Advisors LLC acquired a new position in ING Group during the fourth quarter valued at approximately $213,000. Finally, EP Wealth Advisors LLC acquired a new position in ING Group during the fourth quarter valued at approximately $423,000. 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.