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 research note 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. “

A number of other equities analysts also recently issued reports on the company. ValuEngine raised ING Groep from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. UBS Group reissued a “buy” rating on shares of ING Groep in a research note on Monday, December 11th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of ING Groep in a research note on Wednesday, December 6th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $18.00.

ING Groep (ING) opened at $18.50 on Tuesday. The stock has a market capitalization of $69,310.00, a P/E ratio of 11.86, a PEG ratio of 1.43 and a beta of 1.20. ING Groep has a one year low of $13.63 and a one year high of $20.58. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.09 and a current ratio of 1.09.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC grew its holdings in shares of ING Groep by 14.4% in the 3rd quarter. Neuberger Berman Group LLC now owns 90,573 shares of the financial services provider’s stock worth $1,668,000 after acquiring an additional 11,389 shares during the period. Wells Fargo & Company MN grew its holdings in shares of ING Groep by 4.4% in the 3rd quarter. Wells Fargo & Company MN now owns 2,984,338 shares of the financial services provider’s stock worth $54,971,000 after acquiring an additional 126,009 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of ING Groep by 39.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 694,515 shares of the financial services provider’s stock worth $12,791,000 after acquiring an additional 196,177 shares during the period. Bronfman E.L. Rothschild L.P. grew its holdings in shares of ING Groep by 38.3% in the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 21,683 shares of the financial services provider’s stock worth $399,000 after acquiring an additional 6,000 shares during the period. Finally, Capital Bank & Trust Co grew its holdings in shares of ING Groep by 7.0% in the 3rd quarter. Capital Bank & Trust Co now owns 419,312 shares of the financial services provider’s stock worth $7,724,000 after acquiring an additional 27,610 shares during the period. Institutional investors and hedge funds own 3.03% 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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