ING Groep (NYSE:ING) Rating Lowered to Neutral at The Goldman Sachs Group

ING Groep (NYSE:ING) was downgraded by The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, The Fly reports.

A number of other research firms have also recently issued reports on ING. Zacks Investment Research cut shares of ING Groep from a “buy” rating to a “hold” rating in a research note on Monday, October 11th. Berenberg Bank reiterated a “buy” rating on shares of ING Groep in a research note on Monday, August 9th. Credit Suisse Group reiterated an “outperform” rating on shares of ING Groep in a research note on Friday, November 5th. UBS Group reiterated a “buy” rating on shares of ING Groep in a research note on Friday, October 8th. Finally, Morgan Stanley cut shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 19th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $14.51.

Shares of NYSE ING traded down $0.15 during mid-day trading on Thursday, reaching $14.57. 1,967,218 shares of the company were exchanged, compared to its average volume of 4,407,269. The company’s 50-day simple moving average is $14.78 and its 200-day simple moving average is $13.85. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $56.83 billion, a P/E ratio of 10.41, a P/E/G ratio of 0.38 and a beta of 1.89. ING Groep has a twelve month low of $8.65 and a twelve month high of $15.65.

ING Groep (NYSE:ING) last posted its earnings results on Thursday, November 4th. The financial services provider reported $0.41 earnings per share (EPS) for the quarter. The company had revenue of $5.48 billion during the quarter. ING Groep had a net margin of 25.27% and a return on equity of 8.37%. As a group, equities research analysts expect that ING Groep will post 1.5 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Deutsche Bank AG acquired a new position in shares of ING Groep in the 2nd quarter worth approximately $30,000. Atlas Capital Advisors LLC lifted its position in shares of ING Groep by 539.8% in the 2nd quarter. Atlas Capital Advisors LLC now owns 3,871 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 3,266 shares during the period. Liberty Wealth Management LLC acquired a new position in shares of ING Groep in the 2nd quarter worth approximately $64,000. Fieldpoint Private Securities LLC lifted its position in shares of ING Groep by 23.3% in the 3rd quarter. Fieldpoint Private Securities LLC now owns 5,088 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 963 shares during the period. Finally, Belpointe Asset Management LLC acquired a new position in shares of ING Groep during the 2nd quarter valued at $101,000. 3.57% of the stock is currently owned by hedge funds and other institutional investors.

ING Groep Company Profile

ING Groep NV engages in the provision of banking, investments, life and non-life insurance, and retirement and asset management services. It operates through the following segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other and Wholesale Banking. The Retail Netherlands segment offers current and savings accounts, business lending, mortgages, and consumer lending.

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