ING Group, N.V. (NYSE:ING – Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $33.05 and last traded at $33.0980, with a volume of 325042 shares changing hands. The stock had previously closed at $32.30.
Analysts Set New Price Targets
A number of research firms recently weighed in on ING. Zacks Research lowered shares of ING Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Keefe, Bruyette & Woods upgraded shares of ING Group from a “moderate sell” rating to a “hold” rating in a research note on Thursday, March 26th. Morgan Stanley reiterated an “equal weight” rating on shares of ING Group in a report on Monday, March 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.
Read Our Latest Stock Report on ING Group
ING Group Price Performance
ING Group (NYSE:ING – Get Free Report) last released its quarterly earnings data on Friday, May 1st. The financial services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. ING Group had a return on equity of 12.27% and a net margin of 27.68%.The business had revenue of $616.97 million for the quarter, compared to the consensus estimate of $6.86 billion. Equities analysts anticipate that ING Group, N.V. will post 2.77 earnings per share for the current year.
Hedge Funds Weigh In On ING Group
Several hedge funds have recently added to or reduced their stakes in ING. MidFirst Bank acquired a new stake in ING Group during the fourth quarter worth approximately $25,000. YANKCOM Partnership boosted its holdings in shares of ING Group by 197.2% in the 4th quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock valued at $27,000 after buying an additional 629 shares in the last quarter. Evergreen Advisors LLC purchased a new position in shares of ING Group in the 1st quarter valued at $28,000. Binnacle Investments Inc grew its position in shares of ING Group by 57.0% in the 3rd quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock valued at $28,000 after buying an additional 395 shares during the last quarter. Finally, Transamerica Financial Advisors LLC raised its stake in ING Group by 359.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 871 shares in the last quarter. 4.49% of the stock is currently 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.
Further Reading
- Five stocks we like better than ING Group
- Prepare for the Next Wave of Factory Automation With These 3 Standout Names
- These 3 Water ETFs Could be Quiet Winners From Infrastructure Spending
- The Bond Market Just Sent Amazon a Message Investors Shouldn’t Ignore
- Wedbush Pounds the Table—Buy Sandisk Before August 5 Earnings
Receive News & Ratings for ING Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ING Group and related companies with MarketBeat.com's FREE daily email newsletter.
