ING Group (NYSE:ING) Reaches New 1-Year High - What's Next?

ING Group, N.V. (NYSE:ING - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.70 and last traded at $22.65, with a volume of 2499516 shares changing hands. The stock had previously closed at $22.39.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ING. The Goldman Sachs Group raised shares of ING Group from a "neutral" rating to a "buy" rating in a research report on Thursday, March 27th. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ING Group currently has a consensus rating of "Moderate Buy".

ING Group Stock Up 1.2%

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.86. The company's fifty day simple moving average is $21.13 and its 200 day simple moving average is $18.90. The firm has a market capitalization of $79.23 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 2.13 and a beta of 1.11.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The firm had revenue of $6.36 billion for the quarter, compared to analysts' expectations of $5.74 billion. ING Group had a net margin of 27.70% and a return on equity of 11.68%. Research analysts expect that ING Group, N.V. will post 2.14 EPS for the current year.

Institutional Investors Weigh In On ING Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Advisors LLC purchased a new position in ING Group during the first quarter worth $28,000. SBI Securities Co. Ltd. raised its holdings in shares of ING Group by 135.3% in the first quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 912 shares in the last quarter. Redwood Investments LLC bought a new position in ING Group in the fourth quarter worth about $41,000. Olde Wealth Management LLC bought a new position in ING Group in the first quarter worth about $55,000. Finally, MAI Capital Management raised its holdings in ING Group by 23.1% in the first quarter. MAI Capital Management now owns 4,190 shares of the financial services provider's stock worth $82,000 after purchasing an additional 785 shares in the last quarter. Institutional investors own 4.49% of the company's stock.

ING Group Company Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.

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