Zacks Investment Research Downgrades ING Group, N.V. (ING) to Hold
ING Group, N.V. (NYSE:ING) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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. “
ING has been the topic of a number of other research reports. Deutsche Bank AG restated a “buy” rating on shares of ING Group, N.V. in a research report on Thursday, October 12th. Goldman Sachs Group, Inc. (The) upgraded shares of ING Group, N.V. from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 6th. UBS AG restated a “buy” rating on shares of ING Group, N.V. in a research report on Tuesday, September 5th. ValuEngine upgraded shares of ING Group, N.V. from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 22nd. Finally, BidaskClub upgraded shares of ING Group, N.V. from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 8th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. ING Group, N.V. currently has a consensus rating of “Buy” and an average price target of $15.00.
Shares of ING Group, N.V. (NYSE ING) traded down $0.22 during trading on Friday, reaching $18.28. 1,627,810 shares of the company’s stock were exchanged, compared to its average volume of 2,129,042. ING Group, N.V. has a 1 year low of $13.03 and a 1 year high of $19.01. The company has a debt-to-equity ratio of 2.05, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $70,888.02, a price-to-earnings ratio of 12.19, a P/E/G ratio of 2.71 and a beta of 1.22.
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Large investors have recently modified their holdings of the company. Quadrant Capital Group LLC lifted its holdings in shares of ING Group, N.V. by 5.9% during the second quarter. Quadrant Capital Group LLC now owns 6,989 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 389 shares during the period. Krilogy Financial LLC bought a new position in ING Group, N.V. during the second quarter worth $127,000. MAI Capital Management bought a new position in ING Group, N.V. during the second quarter worth $178,000. Oppenheimer & Co. Inc. bought a new position in ING Group, N.V. during the first quarter worth $166,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in ING Group, N.V. during the second quarter worth $243,000. Institutional investors own 2.93% of the company’s stock.
About ING Group, N.V.
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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