Wright Investors Service Inc. raised its holdings in shares of ING Groep NV (NYSE:ING) by 6.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 71,857 shares of the financial services provider’s stock after purchasing an additional 4,404 shares during the quarter. Wright Investors Service Inc.’s holdings in ING Groep were worth $831,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of ING. Enterprise Financial Services Corp raised its position in shares of ING Groep by 85.6% during the 1st quarter. Enterprise Financial Services Corp now owns 2,287 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 1,055 shares during the last quarter. JNBA Financial Advisors bought a new stake in shares of ING Groep in the 1st quarter valued at $32,000. Bessemer Group Inc. bought a new stake in shares of ING Groep in the 2nd quarter valued at $34,000. Carroll Financial Associates Inc. increased its position in shares of ING Groep by 40.4% in the 2nd quarter. Carroll Financial Associates Inc. now owns 3,780 shares of the financial services provider’s stock valued at $43,000 after buying an additional 1,088 shares in the last quarter. Finally, Zions Bancorporation N.A. bought a new stake in shares of ING Groep in the 1st quarter valued at $44,000. Institutional investors own 3.23% of the company’s stock.
ING has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of ING Groep from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. BNP Paribas cut shares of ING Groep from an “outperform” rating to a “neutral” rating in a research report on Friday, August 2nd. Barclays initiated coverage on shares of ING Groep in a research report on Friday, June 14th. They issued an “underweight” rating and a $11.15 price objective for the company. Zacks Investment Research cut shares of ING Groep from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Exane BNP Paribas cut shares of ING Groep from an “outperform” rating to a “neutral” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $12.58.
NYSE ING traded down $0.01 on Thursday, reaching $9.29. The company had a trading volume of 203,865 shares, compared to its average volume of 2,965,402. The firm has a market cap of $36.15 billion, a price-to-earnings ratio of 5.67, a price-to-earnings-growth ratio of 3.36 and a beta of 1.29. The company has a quick ratio of 1.13, a current ratio of 0.96 and a debt-to-equity ratio of 2.34. ING Groep NV has a 1-year low of $9.30 and a 1-year high of $14.08. The stock’s fifty day moving average price is $11.10.
About ING Groep
ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.
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