ING Group (NYSE:ING) Reaches New 1-Year High – Should You Buy?

ING Group, N.V. (NYSE:ING)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $31.62 and last traded at $31.5980, with a volume of 528165 shares trading hands. The stock had previously closed at $31.13.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ING shares. Weiss Ratings reiterated a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th. Morgan Stanley reissued an “equal weight” rating on shares of ING Group in a research note on Monday, March 23rd. Wall Street Zen downgraded shares of ING Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Keefe, Bruyette & Woods raised shares of ING Group from a “moderate sell” rating to a “hold” rating in a research note on Thursday, March 26th. Finally, Zacks Research downgraded ING Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, ING Group currently has an average rating of “Moderate Buy”.

ING Group Price Performance

The stock has a market capitalization of $92.10 billion, a P/E ratio of 12.51, a price-to-earnings-growth ratio of 0.98 and a beta of 0.84. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50-day moving average price of $29.46 and a 200 day moving average price of $28.42.

ING Group (NYSE:ING) last posted its quarterly earnings results 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 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%. On average, analysts expect that ING Group, N.V. will post 2.77 EPS for the current year.

Hedge Funds Weigh In On ING Group

A number of hedge funds have recently modified their holdings of the company. Amundi bought a new stake in shares of ING Group in the first quarter worth about $760,000. AQR Capital Management LLC grew its position in shares of ING Group by 27.0% in the 1st quarter. AQR Capital Management LLC now owns 87,240 shares of the financial services provider’s stock worth $1,709,000 after buying an additional 18,562 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of ING Group by 5.4% during the first quarter. Integrated Wealth Concepts LLC now owns 21,329 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 1,094 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in ING Group by 19.5% in the second quarter. Sivia Capital Partners LLC now owns 16,823 shares of the financial services provider’s stock valued at $368,000 after acquiring an additional 2,745 shares in the last quarter. Finally, Invesco Ltd. increased its position in ING Group by 28.9% during the 2nd quarter. Invesco Ltd. now owns 47,534 shares of the financial services provider’s stock valued at $1,040,000 after purchasing an additional 10,650 shares during the period. Hedge funds and other institutional investors 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.