ING Group (NYSE:ING) Raised to “Hold” at Zacks Research

ING Group (NYSE:ING) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

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

ING Group Trading Down 0.7%

ING opened at $33.25 on Monday. The stock’s fifty day moving average is $31.45 and its two-hundred day moving average is $29.42. The company has a market capitalization of $95.11 billion, a P/E ratio of 13.14, a PEG ratio of 0.83 and a beta of 0.85. ING Group has a 52 week low of $22.53 and a 52 week high of $33.60. 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 (NYSE:ING) last issued its earnings results on Friday, May 1st. The financial services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. ING Group had a return on equity of 12.27% and a net margin of 27.68%.The business had revenue of $616.97 million during the quarter, compared to analyst estimates of $6.86 billion. Analysts forecast that ING Group will post 2.87 earnings per share for the current year.

Hedge Funds Weigh In On ING Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MidFirst Bank purchased a new position in ING Group during the fourth quarter valued at approximately $25,000. YANKCOM Partnership lifted its holdings in ING Group by 197.2% during the fourth quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock worth $27,000 after buying an additional 629 shares during the period. Evergreen Advisors LLC purchased a new stake in ING Group during the first quarter worth $28,000. Binnacle Investments Inc boosted its position in ING Group by 57.0% during the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 395 shares in the last quarter. Finally, Transamerica Financial Advisors LLC boosted its position in ING Group by 359.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 871 shares in the last quarter. 4.49% of the stock is currently owned by 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.