Zacks Investment Research downgraded shares of ING Groep (NYSE:ING) from a buy rating to a hold rating in a report published 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. “
A number of other equities analysts have also recently commented on ING. ValuEngine raised ING Groep from a buy rating to a strong-buy rating in a report on Sunday, December 31st. UBS Group reissued a buy rating on shares of ING Groep in a report on Monday, December 11th. Goldman Sachs Group reaffirmed a buy rating on shares of ING Groep in a report on Wednesday, December 6th. Finally, Deutsche Bank reaffirmed a buy rating on shares of ING Groep in a report on Thursday, October 12th. Three investment 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 stock. ING Groep currently has a consensus rating of Buy and an average target price of $17.50.
A number of institutional investors and hedge funds have recently modified their holdings of the business. KCS Wealth Advisory acquired a new position in ING Groep in the 4th quarter worth about $290,000. Sit Investment Associates Inc. increased its holdings in ING Groep by 5.2% in the 4th quarter. Sit Investment Associates Inc. now owns 266,150 shares of the financial services provider’s stock worth $4,913,000 after purchasing an additional 13,125 shares in the last quarter. Parametric Portfolio Associates LLC increased its holdings in ING Groep by 9.7% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,974,651 shares of the financial services provider’s stock worth $54,793,000 after purchasing an additional 262,142 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in 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 purchasing an additional 11,389 shares in the last quarter. Finally, Guardian Capital LP acquired a new position in ING Groep in the 3rd quarter worth about $10,210,000. 2.96% of the stock is owned by institutional investors and hedge funds.
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ING Groep Company Profile
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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