ING Group, N.V. (NYSE:ING – Get Free Report) shares hit a new 52-week high on Tuesday . The stock traded as high as $31.40 and last traded at $31.37, with a volume of 196078 shares. The stock had previously closed at $30.50.
Analyst Upgrades and Downgrades
Several research analysts have commented on ING shares. Wall Street Zen cut shares of ING Group from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Keefe, Bruyette & Woods upgraded shares of ING Group from a “moderate sell” rating to a “hold” rating in a report on Thursday, March 26th. Morgan Stanley restated an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. Deutsche Bank Aktiengesellschaft upgraded shares of ING Group from a “hold” rating to a “buy” rating in a report on Monday, February 2nd. Finally, Zacks Research cut shares of ING Group from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.
Check Out Our Latest Stock Analysis on ING Group
ING Group Price Performance
ING Group (NYSE:ING – Get Free Report) last released its quarterly earnings results on Friday, May 1st. The financial services provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. ING Group had a net margin of 27.68% and a return on equity of 12.27%. The business had revenue of $616.97 million for the quarter, compared to analyst estimates of $6.86 billion. As a group, sell-side analysts predict that ING Group, N.V. will post 2.76 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of ING. Citigroup Inc. increased its stake in shares of ING Group by 249.9% during the 3rd quarter. Citigroup Inc. now owns 2,047,717 shares of the financial services provider’s stock worth $53,404,000 after purchasing an additional 1,462,527 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of ING Group by 61.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,700,573 shares of the financial services provider’s stock worth $75,616,000 after buying an additional 1,032,177 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of ING Group by 4,512.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 911,413 shares of the financial services provider’s stock worth $25,520,000 after buying an additional 891,652 shares in the last quarter. ABC Arbitrage SA grew its holdings in shares of 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 in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of ING Group by 7.3% during the second quarter. Bank of America Corp DE now owns 8,764,562 shares of the financial services provider’s stock worth $191,681,000 after buying an additional 593,424 shares in the last quarter. 4.49% of the stock is owned by hedge funds and other institutional investors.
ING Group Company Profile
ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.
ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.
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