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.
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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