ING Group (NYSE:ING) Upgraded to Hold at Zacks Research

ING Group (NYSE:ING) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, ING Group currently has an average rating of “Moderate Buy”.

ING Group Price Performance

Shares of ING opened at $33.25 on Monday. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.11 and a quick ratio of 1.11. ING Group has a 1-year low of $22.53 and a 1-year high of $33.60. The stock has a market cap of $95.11 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.83 and a beta of 0.85. The firm has a fifty day moving average price of $31.45 and a 200 day moving average price of $29.42.

ING Group (NYSE:ING) last issued its quarterly earnings data on Friday, May 1st. The financial services provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $616.97 million for the quarter, compared to analyst estimates of $6.86 billion. ING Group had a return on equity of 12.27% and a net margin of 27.68%. As a group, sell-side analysts anticipate that ING Group will post 2.87 EPS for the current year.

Institutional Trading of ING Group

Several institutional investors and hedge funds have recently bought and sold shares of ING. MidFirst Bank acquired a new stake in ING Group during the 4th quarter worth $25,000. YANKCOM Partnership grew its position in ING Group by 197.2% during the 4th quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 629 shares during the last quarter. Evergreen Advisors LLC acquired a new position in ING Group in the first quarter valued at $28,000. Binnacle Investments Inc increased its stake in ING Group by 57.0% in the third quarter. Binnacle Investments Inc now owns 1,088 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 395 shares during the period. Finally, Transamerica Financial Advisors LLC increased its stake in ING Group by 359.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 871 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

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.