ING Group (NYSE:ING) Sets New 12-Month High - Should You Buy?

ING Group, N.V. (NYSE:ING - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.48 and last traded at $23.42, with a volume of 1200946 shares. The stock had previously closed at $23.03.

Analysts Set New Price Targets

ING has been the topic of a number of analyst reports. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. Cfra Research raised shares of ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group raised shares of ING Group from a "neutral" rating to a "buy" rating in a report on Thursday, March 27th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy".

ING Group Trading Up 0.1%

The business's fifty day moving average is $21.75 and its 200-day moving average is $19.49. The firm has a market cap of $82.92 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 1.92 and a beta of 1.11. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.12 and a current ratio of 1.12.

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

Institutional Trading of ING Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legacy Advisors LLC acquired a new stake in ING Group during the 1st quarter valued at approximately $28,000. SBI Securities Co. Ltd. increased its position in ING Group by 135.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 912 shares during the period. V Square Quantitative Management LLC acquired a new stake in ING Group during the 2nd quarter valued at approximately $37,000. Maseco LLP acquired a new stake in shares of ING Group during the 2nd quarter worth approximately $48,000. Finally, Redwood Investments LLC acquired a new stake in shares of ING Group during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 4.49% of the company's stock.

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.