ING Groep (ING) Cut to “Buy” at ValuEngine

ValuEngine downgraded shares of ING Groep (NYSE:ING) from a strong-buy rating to a buy rating in a report issued on Tuesday.

Several other analysts have also recently commented on ING. Zacks Investment Research upgraded ING Groep from a hold rating to a buy rating and set a $20.00 price target for the company in a report on Tuesday, December 5th. Goldman Sachs restated a buy rating on shares of ING Groep in a report on Wednesday, December 6th. Finally, UBS restated a buy rating on shares of ING Groep in a report on Monday, December 11th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $18.00.

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ING opened at $16.80 on Tuesday. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $65,864.14, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.36. ING Groep has a 12 month low of $14.55 and a 12 month high of $20.58.

ING Groep (NYSE:ING) last posted its quarterly earnings results on Wednesday, January 31st. The financial services provider reported $0.31 EPS for the quarter. The company had revenue of $5.14 billion during the quarter. ING Groep had a return on equity of 10.22% and a net margin of 27.70%. sell-side analysts forecast that ING Groep will post 1.71 EPS for the current fiscal year.

The company also recently disclosed a semiannual dividend, which will be paid on Friday, May 11th. Stockholders of record on Thursday, April 26th will be paid a $0.5344 dividend. This is a positive change from ING Groep’s previous semiannual dividend of $0.45. This represents a dividend yield of 5.77%. The ex-dividend date of this dividend is Wednesday, April 25th. ING Groep’s payout ratio is currently 42.36%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ING. Fisher Asset Management LLC lifted its stake in shares of ING Groep by 4.7% in the 4th quarter. Fisher Asset Management LLC now owns 39,991,232 shares of the financial services provider’s stock valued at $738,238,000 after purchasing an additional 1,813,102 shares in the last quarter. Chevy Chase Trust Holdings Inc. acquired a new position in shares of ING Groep in the 3rd quarter valued at about $22,685,000. Guardian Capital LP acquired a new position in shares of ING Groep in the 3rd quarter valued at about $10,210,000. Assetmark Inc. lifted its stake in shares of ING Groep by 69.5% in the 4th quarter. Assetmark Inc. now owns 1,206,474 shares of the financial services provider’s stock valued at $22,272,000 after purchasing an additional 494,809 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in shares of ING Groep by 9.7% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,974,651 shares of the financial services provider’s stock valued at $54,793,000 after purchasing an additional 262,142 shares in the last quarter. 3.22% of the stock is currently owned by institutional investors and hedge funds.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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