Zacks Investment Research upgraded shares of ING Groep (NYSE:ING) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. Zacks Investment Research currently has $11.00 price target on the financial services provider’s stock.
According to Zacks, “ING GROEP-ADR is a global financial institution of Dutch origin offering banking, insurance and asset management to over 50 million private, corporate and institutional clients in 65 countries. ING can fully deliver what today’s clients expect: unlimited access, maximum convenience, immediate and accurate execution, personal advice, tailor-made solutions and competitive rates. “
A number of other research firms also recently issued reports on ING. Jefferies Financial Group reissued a buy rating on shares of ING Groep in a research report on Wednesday, December 16th. ValuEngine raised ING Groep from a sell rating to a hold rating in a research report on Wednesday, November 18th. UBS Group reiterated a buy rating on shares of ING Groep in a research report on Tuesday, January 5th. Finally, Morgan Stanley reiterated an equal weight rating on shares of ING Groep in a research report on Monday, November 16th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $9.00.
Shares of ING opened at $10.16 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $39.59 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 2.48 and a beta of 1.92. The stock has a 50 day moving average of $9.66 and a 200 day moving average of $8.12. ING Groep has a 12 month low of $4.52 and a 12 month high of $12.30.
ING Groep (NYSE:ING) last released its earnings results on Thursday, November 5th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter. ING Groep had a return on equity of 4.92% and a net margin of 14.79%. The business had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $5.20 billion. As a group, equities research analysts predict that ING Groep will post 0.82 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Nuveen Asset Management LLC bought a new position in ING Groep during the 2nd quarter valued at approximately $8,625,000. Advisory Research Inc. increased its position in ING Groep by 9,000.9% during the 3rd quarter. Advisory Research Inc. now owns 920,467 shares of the financial services provider’s stock valued at $6,517,000 after buying an additional 910,353 shares in the last quarter. FMR LLC increased its position in ING Groep by 59.7% during the 2nd quarter. FMR LLC now owns 2,224,458 shares of the financial services provider’s stock valued at $15,349,000 after buying an additional 831,454 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in ING Groep during the 3rd quarter valued at approximately $3,132,000. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in shares of ING Groep by 50.1% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 1,201,900 shares of the financial services provider’s stock worth $8,293,000 after purchasing an additional 401,000 shares in the last quarter. Institutional investors own 2.78% of the company’s stock.
About ING Groep
ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.
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