ING Group (NYSE:ING) Stock Rating Upgraded by Cfra Research

Key Points

• ING Group's stock rating was upgraded from "hold" to a "moderate buy" by CFRA Research, reflecting positive sentiment among analysts.
• Several other analysts also upgraded ING Group, with the current consensus rating being a "Buy."
• ING Group reported better-than-expected quarterly earnings, with an EPS of $0.64 exceeding analysts' estimates by $0.05.

ING Group (NYSE:ING - Get Free Report) was upgraded by stock analysts at Cfra Research from a "hold" rating to a "moderate buy" rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Morgan Stanley upgraded ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, September 2nd. Barclays upgraded ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy".

ING Group Trading Up 1.5%

Shares of ING stock opened at $25.98 on Thursday. ING Group has a 52-week low of $15.09 and a 52-week high of $26.02. The company has a debt-to-equity ratio of 2.83, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $81.77 billion, a PE ratio of 11.97, a PEG ratio of 1.84 and a beta of 1.10. The stock has a fifty day simple moving average of $24.39 and a two-hundred day simple moving average of $21.82.

ING Group (NYSE:ING - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.05. ING Group had a return on equity of 11.62% and a net margin of 27.28%.The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.40 billion. On average, analysts predict that ING Group will post 2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ING. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of ING Group by 129.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 166,677 shares of the financial services provider's stock valued at $2,612,000 after purchasing an additional 94,080 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of ING Group by 697.9% in the 1st quarter. Versant Capital Management Inc now owns 22,668 shares of the financial services provider's stock valued at $444,000 after acquiring an additional 19,827 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of ING Group by 2,660.0% in the 1st quarter. GAMMA Investing LLC now owns 189,670 shares of the financial services provider's stock valued at $37,160,000 after acquiring an additional 182,798 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of ING Group by 7.4% in the 1st quarter. Parallel Advisors LLC now owns 20,339 shares of the financial services provider's stock valued at $398,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of ING Group by 4.6% in the 1st quarter. Rhumbline Advisers now owns 77,975 shares of the financial services provider's stock valued at $1,528,000 after acquiring an additional 3,421 shares during the last quarter. 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.

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