ING Group (NYSE:ING) Reaches New 52-Week High – Should You Buy?

ING Group, N.V. (NYSE:ING)’s share price reached a new 52-week high on Wednesday . The company traded as high as $31.62 and last traded at $31.5980, with a volume of 528165 shares changing hands. The stock had previously closed at $31.13.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of ING Group in a research note on Monday, March 23rd. Wall Street Zen lowered ING Group from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Keefe, Bruyette & Woods raised ING Group from a “moderate sell” rating to a “hold” rating in a research report on Thursday, March 26th. Zacks Research downgraded ING Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of ING Group in a report on Friday, May 29th. One investment 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

ING Group Price Performance

The stock’s 50 day moving average price is $29.64 and its two-hundred day moving average price is $28.50. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $91.45 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.01 and a beta of 0.84.

ING Group (NYSE:ING) last posted 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. 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 during the quarter, compared to the consensus estimate of $6.86 billion. On average, equities research analysts anticipate that ING Group, N.V. will post 2.77 EPS for the current year.

Institutional Investors Weigh In On ING Group

A number of hedge funds have recently bought and sold shares of ING. MidFirst Bank bought a new position in shares of ING Group in the fourth quarter worth about $25,000. YANKCOM Partnership boosted its stake in ING Group by 197.2% during the 4th quarter. YANKCOM Partnership now owns 948 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 629 shares during the period. Evergreen Advisors LLC bought a new stake in ING Group during the 1st quarter valued at approximately $28,000. Binnacle Investments Inc boosted its stake in ING Group by 57.0% during the 3rd 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 grew its holdings in ING Group by 359.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,113 shares of the financial services provider’s stock valued at $31,000 after buying an additional 871 shares during the last quarter. 4.49% of the stock is currently owned by institutional investors.

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.