ING Group, N.V. (ING) Receives Consensus Rating of “Buy” from Brokerages
Shares of ING Group, N.V. (NYSE:ING) have been assigned a consensus rating of “Buy” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $15.00.
ING has been the subject of a number of recent research reports. Goldman Sachs Group upgraded ING Group from a “neutral” rating to a “buy” rating in a report on Wednesday, September 6th. ValuEngine raised ING Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research downgraded ING Group from a “buy” rating to a “hold” rating in a report on Friday, November 3rd. Deutsche Bank reaffirmed a “buy” rating on shares of ING Group in a report on Thursday, October 12th. Finally, UBS reaffirmed a “buy” rating on shares of ING Group in a report on Tuesday, September 5th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ING. Crossmark Global Holdings Inc. acquired a new stake in ING Group in the 3rd quarter valued at $6,971,000. PNC Financial Services Group Inc. increased its holdings in ING Group by 27.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 60,368 shares of the financial services provider’s stock valued at $1,049,000 after purchasing an additional 12,823 shares in the last quarter. Cetera Investment Advisers acquired a new stake in ING Group in the 2nd quarter valued at $333,000. Seven Eight Capital LP acquired a new stake in ING Group in the 2nd quarter valued at $353,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in ING Group by 5.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 235,766 shares of the financial services provider’s stock valued at $4,100,000 after purchasing an additional 13,128 shares in the last quarter. Institutional investors own 2.97% of the company’s stock.
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About ING Group
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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