ING Groep (ING) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of ING Groep (NYSE:ING) from a buy rating to a hold rating in a research report report published 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 equities research analysts also recently weighed in on the stock. Goldman Sachs Group raised shares of ING Groep from a neutral rating to a buy rating in a research note on Wednesday, September 6th. UBS reissued a buy rating on shares of ING Groep in a research note on Tuesday, September 5th. Deutsche Bank reissued a buy rating on shares of ING Groep in a research note on Thursday, October 12th. Finally, ValuEngine raised shares of ING Groep from a buy rating to a strong-buy rating in a research note on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $17.50.

Shares of ING Groep (ING) traded down $0.07 on Thursday, reaching $18.18. 2,438,600 shares of the company were exchanged, compared to its average volume of 3,452,338. The stock has a market capitalization of $70,500.22, a P/E ratio of 12.12, a P/E/G ratio of 2.30 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 has a 1-year low of $13.63 and a 1-year high of $19.01.

Several hedge funds and other institutional investors have recently modified their holdings of ING. Bank of Montreal Can increased its stake in shares of ING Groep by 179.8% in the second quarter. Bank of Montreal Can now owns 74,805 shares of the financial services provider’s stock worth $1,301,000 after buying an additional 48,067 shares during the period. TD Asset Management Inc. increased its stake in shares of ING Groep by 6.9% in the second quarter. TD Asset Management Inc. now owns 251,527 shares of the financial services provider’s stock worth $4,374,000 after buying an additional 16,171 shares during the period. First Trust Advisors LP boosted its holdings in ING Groep by 1.8% in the second quarter. First Trust Advisors LP now owns 48,455 shares of the financial services provider’s stock valued at $843,000 after acquiring an additional 877 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in ING Groep by 0.7% in the second quarter. Wedbush Securities Inc. now owns 17,586 shares of the financial services provider’s stock valued at $306,000 after acquiring an additional 117 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in ING Groep by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 109,693 shares of the financial services provider’s stock valued at $1,907,000 after acquiring an additional 5,175 shares in the last quarter. 2.97% of the stock is currently owned by institutional investors.

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ING Groep Company Profile

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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