ING Groep (ING) Stock Rating Lowered by Zacks Investment Research

ING Groep (NYSE:ING) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

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 analysts have also recently issued reports on ING. ValuEngine raised ING Groep from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. UBS Group reaffirmed a “buy” rating on shares of ING Groep in a research report on Monday, December 11th. Goldman Sachs Group reaffirmed a “buy” rating on shares of ING Groep in a research report on Wednesday, December 6th. Finally, Deutsche Bank reissued a “buy” rating on shares of ING Groep in a report on Thursday, October 12th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $18.50.

ING Groep (NYSE ING) traded up $0.05 on Thursday, hitting $20.27. The stock had a trading volume of 4,230,365 shares, compared to its average volume of 1,750,157. ING Groep has a 52 week low of $13.63 and a 52 week high of $20.34. The firm has a market capitalization of $78,411.13, a PE ratio of 15.47, a price-to-earnings-growth ratio of 2.42 and a beta of 1.20. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.09 and a current ratio of 1.09.

ING Groep (NYSE:ING) last released its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter. ING Groep had a return on equity of 11.06% and a net margin of 26.20%. analysts forecast that ING Groep will post 1.62 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its holdings in ING Groep by 4.4% during the 3rd quarter. Wells Fargo & Company MN now owns 2,984,338 shares of the financial services provider’s stock worth $54,971,000 after purchasing an additional 126,009 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in ING Groep by 39.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 694,515 shares of the financial services provider’s stock worth $12,791,000 after purchasing an additional 196,177 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in ING Groep by 14.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 90,573 shares of the financial services provider’s stock worth $1,668,000 after purchasing an additional 11,389 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in ING Groep by 38.3% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 21,683 shares of the financial services provider’s stock worth $399,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Capital Bank & Trust Co lifted its holdings in ING Groep by 7.0% during the 3rd quarter. Capital Bank & Trust Co now owns 419,312 shares of the financial services provider’s stock worth $7,724,000 after purchasing an additional 27,610 shares during the last quarter. 2.96% of the stock is owned by institutional investors and hedge funds.

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About ING Groep

ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.

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