ING Groep (ING) Upgraded at Zacks Investment Research
ING Groep (NYSE:ING) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $20.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 11.92% from the company’s previous close.
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. “
Several other analysts have also recently commented on ING. ValuEngine upgraded shares of ING Groep from a “buy” rating to a “strong-buy” rating in a research note on Friday. Deutsche Bank restated a “buy” rating on shares of ING Groep in a research note on Thursday, October 12th. UBS restated a “buy” rating on shares of ING Groep in a research note on Tuesday, September 5th. Finally, Goldman Sachs Group upgraded shares of ING Groep from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 6th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $17.50.
Several large investors have recently bought and sold shares of ING. Northcoast Asset Management purchased a new position in shares of ING Groep during the 3rd quarter valued at approximately $2,718,000. EisnerAmper Wealth Management increased its holdings in shares of ING Groep by 12.3% during the 4th quarter. EisnerAmper Wealth Management now owns 25,920 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 2,849 shares in the last quarter. Capstone Asset Management Company increased its holdings in shares of ING Groep by 0.8% during the 4th quarter. Capstone Asset Management Company now owns 505,070 shares of the financial services provider’s stock valued at $6,798,000 after purchasing an additional 3,823 shares in the last quarter. BB&T Securities increased its holdings in shares of ING Groep by 1.9% during the 4th quarter. BB&T Securities now owns 76,825 shares of the financial services provider’s stock valued at $1,034,000 after purchasing an additional 1,462 shares in the last quarter. Finally, 1st Global Advisors Inc. increased its holdings in ING Groep by 3.0% in the 4th quarter. 1st Global Advisors Inc. now owns 36,229 shares of the financial services provider’s stock worth $488,000 after acquiring an additional 1,041 shares in the last quarter. 2.97% of the stock is owned by hedge funds and other institutional investors.
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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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