ING Group, N.V. (NYSE:ING) Given Average Recommendation of “Buy” by Brokerages

ING Group, N.V. (NYSE:ING) has been given a consensus recommendation of “Buy” by the five research firms that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating.

ING has been the topic of a number of recent research reports. Keefe, Bruyette & Woods downgraded shares of ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Cfra Research upgraded shares of ING Group from a “hold” rating to a “moderate buy” rating in a research note on Thursday, September 25th. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research report on Thursday, November 13th. Finally, Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 2nd.

ING Group Stock Up 0.3%

ING stock opened at $24.81 on Thursday. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $78.07 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.76 and a beta of 1.05. ING Group has a fifty-two week low of $15.09 and a fifty-two week high of $26.59. The business has a 50-day moving average of $25.11 and a 200-day moving average of $23.41.

ING Group (NYSE:ING) last announced its earnings results on Thursday, October 30th. The financial services provider reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.06. The business had revenue of $6.88 billion for the quarter, compared to analyst estimates of $5.35 billion. ING Group had a return on equity of 11.57% and a net margin of 26.94%. On average, sell-side analysts anticipate that ING Group will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD bought a new stake in ING Group during the first quarter worth $36,062,000. Citigroup Inc. raised its holdings in shares of ING Group by 249.9% in the 3rd quarter. Citigroup Inc. now owns 2,047,717 shares of the financial services provider’s stock valued at $53,404,000 after purchasing an additional 1,462,527 shares during the period. Millennium Management LLC lifted its stake in ING Group by 197.6% in the 1st quarter. Millennium Management LLC now owns 1,667,239 shares of the financial services provider’s stock valued at $32,661,000 after purchasing an additional 1,106,926 shares during the last quarter. Natixis Advisors LLC grew its holdings in ING Group by 25.7% during the first quarter. Natixis Advisors LLC now owns 4,250,850 shares of the financial services provider’s stock worth $83,274,000 after purchasing an additional 869,281 shares during the period. Finally, ABC Arbitrage SA increased its position in ING Group by 280.3% during the third quarter. ABC Arbitrage SA now owns 900,936 shares of the financial services provider’s stock worth $23,496,000 after buying an additional 664,063 shares during the last quarter. Institutional investors and hedge funds 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.