ING Group, N.V. (NYSE:ING) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of ING Group, N.V. (NYSE:ING) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company.

ING has been the subject of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. Zacks Research lowered shares of ING Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Keefe, Bruyette & Woods raised shares of ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Morgan Stanley restated an “equal weight” rating on shares of ING Group in a research note on Monday, March 23rd.

ING Group Stock Down 0.4%

ING stock opened at $32.19 on Tuesday. The firm has a market capitalization of $93.67 billion, a PE ratio of 12.72, a P/E/G ratio of 1.04 and a beta of 0.85. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 2.73. ING Group has a twelve month low of $22.53 and a twelve month high of $33.35. The stock’s 50 day moving average is $31.04 and its 200-day moving average is $29.22.

ING Group (NYSE:ING) last announced its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Sell-side analysts expect that ING Group will post 2.77 EPS for the current fiscal year.

Institutional Investors Weigh In On ING Group

Several large investors have recently made changes to their positions in the business. Contravisory Investment Management Inc. lifted its holdings in 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 worth $323,000 after buying an additional 349 shares during the period. CIBC Private Wealth Group LLC lifted its stake in shares of ING Group by 4.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 8,734 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 361 shares during the period. Aprio Wealth Management LLC boosted its position in shares of ING Group by 1.6% during the fourth quarter. Aprio Wealth Management LLC now owns 23,240 shares of the financial services provider’s stock valued at $651,000 after purchasing an additional 370 shares in the last quarter. Quadrant Capital Group LLC grew its stake in ING Group by 0.4% in the fourth quarter. Quadrant Capital Group LLC now owns 106,170 shares of the financial services provider’s stock worth $2,973,000 after purchasing an additional 374 shares during the period. Finally, Binnacle Investments Inc raised its holdings in 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 purchasing an additional 395 shares in 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.