ING Group (NYSE:ING) Sets New 1-Year High - Time to Buy?

Shares of ING Group, N.V. (NYSE:ING - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $21.97 and last traded at $21.93, with a volume of 294335 shares changing hands. The stock had previously closed at $21.48.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. The Goldman Sachs Group upgraded 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 note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, ING Group has an average rating of "Moderate Buy".

ING Group Stock Performance

The company has a debt-to-equity ratio of 2.86, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $76.63 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 2.02 and a beta of 1.13. The firm has a 50 day simple moving average of $20.64 and a 200-day simple moving average of $18.50.

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

Institutional Investors Weigh In On ING Group

A number of institutional investors and hedge funds have recently made changes to their positions in ING. Y Intercept Hong Kong Ltd raised its position in ING Group by 97.4% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 51,922 shares of the financial services provider's stock valued at $814,000 after purchasing an additional 25,624 shares during the period. IFP Advisors Inc raised its holdings in shares of ING Group by 25.1% in the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider's stock valued at $48,000 after buying an additional 621 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of ING Group in the 4th quarter valued at $55,000. Oppenheimer Asset Management Inc. lifted its stake in ING Group by 18.7% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 92,045 shares of the financial services provider's stock worth $1,442,000 after acquiring an additional 14,476 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in ING Group by 1.5% during the 4th quarter. US Bancorp DE now owns 170,021 shares of the financial services provider's stock valued at $2,664,000 after acquiring an additional 2,513 shares during the period. 4.49% of the stock is owned by hedge funds and other institutional investors.

About ING Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.