Zacks Investment Research Downgrades ING Groep (ING) to Hold

ING Groep (NYSE:ING) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

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. “

ING has been the topic of several other research reports. ValuEngine upgraded shares of ING Groep from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. UBS Group restated a “buy” rating on shares of ING Groep in a research report on Monday, December 11th. Deutsche Bank restated a “buy” rating on shares of ING Groep in a research report on Thursday, October 12th. Finally, Goldman Sachs Group restated a “buy” rating on shares of ING Groep in a research report on Wednesday, December 6th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. ING Groep presently has a consensus rating of “Buy” and a consensus target price of $18.50.

Shares of ING Groep (ING) remained flat at $$20.30 on Wednesday. The company’s stock had a trading volume of 2,600,000 shares, compared to its average volume of 2,460,000. ING Groep has a fifty-two week low of $13.63 and a fifty-two week high of $20.58. The company has a market cap of $78,170.00, a P/E ratio of 13.72, a PEG ratio of 2.42 and a beta of 1.20. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.09 and a quick ratio of 1.09.

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

A number of institutional investors and hedge funds have recently made changes to their positions in ING. Neuberger Berman Group LLC increased its position in ING Groep by 14.4% during the third quarter. Neuberger Berman Group LLC now owns 90,573 shares of the financial services provider’s stock valued at $1,668,000 after acquiring an additional 11,389 shares during the last quarter. Wells Fargo & Company MN increased its position in ING Groep by 4.4% during the third quarter. Wells Fargo & Company MN now owns 2,984,338 shares of the financial services provider’s stock valued at $54,971,000 after acquiring an additional 126,009 shares during the last quarter. Envestnet Asset Management Inc. increased its position in ING Groep by 39.4% during the third quarter. Envestnet Asset Management Inc. now owns 694,515 shares of the financial services provider’s stock valued at $12,791,000 after acquiring an additional 196,177 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in ING Groep by 38.3% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 21,683 shares of the financial services provider’s stock valued at $399,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Capital Bank & Trust Co increased its position in ING Groep by 7.0% during the third quarter. Capital Bank & Trust Co now owns 419,312 shares of the financial services provider’s stock valued at $7,724,000 after acquiring an additional 27,610 shares during the last quarter. Institutional investors own 2.97% of the company’s stock.

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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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