ING Group (NYSE:ING) Sets New 1-Year High - Here's Why

ING Group, N.V. (NYSE:ING - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $22.36 and last traded at $22.34, with a volume of 2745266 shares changing hands. The stock had previously closed at $22.00.

Analysts Set New Price Targets

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

ING Group Price 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 firm has a market cap of $78.73 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 2.14 and a beta of 1.11. The firm has a 50-day simple moving average of $21.01 and a 200 day simple moving average of $18.83.

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%. As a group, equities analysts expect that ING Group, N.V. will post 2.14 EPS for the current year.

Hedge Funds Weigh In On ING Group

Several large investors have recently modified their holdings of ING. Legacy Advisors LLC purchased a new position in shares of ING Group in the 1st quarter worth about $28,000. SBI Securities Co. Ltd. raised its position in shares of ING Group by 135.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 1,586 shares of the financial services provider's stock worth $31,000 after purchasing an additional 912 shares during the last quarter. Redwood Investments LLC purchased a new position in shares of ING Group in the 4th quarter worth about $41,000. Olde Wealth Management LLC purchased a new position in shares of ING Group in the 1st quarter worth about $55,000. Finally, MAI Capital Management raised its position in shares of ING Group by 23.1% in the 1st 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 during the last quarter. Hedge funds and other institutional investors 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.