ING Groep (ING) Downgraded 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 report issued on Tuesday.

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. “

Other research analysts have also issued research reports about the stock. UBS Group reiterated a buy rating on shares of ING Groep in a research note on Monday, December 11th. Goldman Sachs Group reiterated a buy rating on shares of ING Groep in a research note on Wednesday, December 6th. Finally, ValuEngine upgraded 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, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $18.00.

ING Groep (NYSE:ING) opened at $18.19 on Tuesday. ING Groep has a 52 week low of $13.63 and a 52 week high of $20.58. The company has a market cap of $69,810.00, a PE ratio of 11.74, a P/E/G ratio of 1.42 and a beta of 1.20. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 2.05.

A number of hedge funds and other institutional investors have recently bought and sold shares of ING. Bank of New York Mellon Corp boosted its holdings in ING Groep by 5.0% in the 2nd 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 purchasing an additional 5,175 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in ING Groep by 190.3% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 42,672 shares of the financial services provider’s stock valued at $742,000 after purchasing an additional 27,972 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in ING Groep by 17.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 18,684 shares of the financial services provider’s stock valued at $325,000 after purchasing an additional 2,819 shares during the period. Wasatch Advisors Inc. boosted its holdings in ING Groep by 8.7% in the 2nd quarter. Wasatch Advisors Inc. now owns 231,297 shares of the financial services provider’s stock valued at $4,022,000 after purchasing an additional 18,444 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in ING Groep in the 2nd quarter valued at about $423,000. 3.03% 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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