ING Groep (ING) Stock Rating Upgraded by Zacks Investment Research
ING Groep (NYSE:ING) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm currently has a $21.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 15.26% from the stock’s previous close.
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 have also commented on the stock. Deutsche Bank reaffirmed a “buy” rating on shares of ING Groep in a research report on Thursday, October 12th. Goldman Sachs Group reiterated a “buy” rating on shares of ING Groep in a research note on Wednesday, December 6th. UBS Group reiterated a “buy” rating on shares of ING Groep in a research note on Monday, December 11th. Finally, ValuEngine upgraded shares of ING Groep from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $18.00.
A number of institutional investors have recently made changes to their positions in the business. Fisher Asset Management LLC boosted its stake in shares of ING Groep by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 38,178,130 shares of the financial services provider’s stock valued at $703,241,000 after purchasing an additional 2,168,788 shares in the last quarter. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of ING Groep in the 3rd quarter valued at approximately $22,685,000. Assetmark Inc. boosted its stake in shares of ING Groep by 5,421.5% in the 3rd quarter. Assetmark Inc. now owns 711,665 shares of the financial services provider’s stock valued at $13,109,000 after purchasing an additional 698,776 shares in the last quarter. Guardian Capital LP acquired a new stake in shares of ING Groep in the 3rd quarter valued at approximately $10,210,000. Finally, Schafer Cullen Capital Management Inc. boosted its stake in shares of ING Groep by 12.3% in the 2nd quarter. Schafer Cullen Capital Management Inc. now owns 4,589,005 shares of the financial services provider’s stock valued at $79,803,000 after purchasing an additional 504,416 shares in the last quarter. Hedge funds and other institutional investors own 3.02% 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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