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

Shares of ING Group, N.V. (NYSE:ING) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company.

ING has been the subject of a number of analyst reports. Zacks Research cut ING Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research note on Friday, May 29th.

Institutional Trading of ING Group

A number of hedge funds have recently modified their holdings of the company. Contravisory Investment Management Inc. grew its holdings in ING Group by 3.5% during the second quarter. Contravisory Investment Management Inc. now owns 10,309 shares of the financial services provider’s stock valued at $323,000 after purchasing an additional 349 shares during the period. CIBC Private Wealth Group LLC increased its stake in ING Group by 4.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 8,734 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 361 shares in the last quarter. Aprio Wealth Management LLC raised its holdings in ING Group by 1.6% in the fourth quarter. Aprio Wealth Management LLC now owns 23,240 shares of the financial services provider’s stock worth $651,000 after purchasing an additional 370 shares during the period. Quadrant Capital Group LLC raised its holdings in ING Group by 0.4% in the fourth quarter. Quadrant Capital Group LLC now owns 106,170 shares of the financial services provider’s stock worth $2,973,000 after purchasing an additional 374 shares during the period. Finally, Binnacle Investments Inc boosted its position in shares of ING Group by 57.0% during the third quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 395 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Group Price Performance

ING opened at $33.48 on Tuesday. The company has a fifty day moving average price of $31.37 and a two-hundred day moving average price of $29.38. The company has a debt-to-equity ratio of 2.73, a quick ratio of 1.11 and a current ratio of 1.11. ING Group has a 52 week low of $22.53 and a 52 week high of $33.60. The firm has a market capitalization of $95.77 billion, a PE ratio of 13.24, a P/E/G ratio of 0.82 and a beta of 0.85.

ING Group (NYSE:ING) last issued its 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. The company had revenue of $616.97 million during the quarter, compared to analysts’ expectations of $6.86 billion. ING Group had a net margin of 27.68% and a return on equity of 12.27%. As a group, analysts anticipate that ING Group will post 2.87 earnings per share for the current year.

About ING Group

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.