ING Group, N.V. (NYSE:ING) Stock Has Consensus Target Price of $34.50 According to Analysts

Shares of ING Group, N.V. (NYSE:ING) have received an average recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $34.50.

Several equities analysts have recently commented on ING shares. Zacks Research raised shares of ING Group from a “strong sell” rating to a “hold” rating in a report on Monday, July 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of ING Group in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of ING Group in a research report on Tuesday, August 25th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of ING Group in a report on Thursday, October 1st. Finally, Jefferies Financial Group reaffirmed a “neutral” rating on shares of ING Group in a research report on Thursday, September 17th.

Institutional Trading of ING Group

A number of hedge funds and other institutional investors have recently modified their holdings of ING. Bank of America Corp DE raised its stake in ING Group by 1.0% during the 1st quarter. Bank of America Corp DE now owns 6,451,137 shares of the financial services provider’s stock valued at $168,052,000 after purchasing an additional 61,919 shares during the period. TD Waterhouse Canada Inc. increased its holdings in shares of ING Group by 9.1% during the third quarter. TD Waterhouse Canada Inc. now owns 421,191 shares of the financial services provider’s stock worth $14,416,000 after buying an additional 35,218 shares in the last quarter. Parr Mcknight Wealth Management Group LLC lifted its position in ING Group by 954.1% during the 1st quarter. Parr Mcknight Wealth Management Group LLC now owns 101,528 shares of the financial services provider’s stock worth $2,645,000 after buying an additional 91,896 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in ING Group by 15.4% during the 2nd quarter. QRG Capital Management Inc. now owns 394,253 shares of the financial services provider’s stock worth $12,372,000 after buying an additional 52,524 shares in the last quarter. Finally, Gibbs Wealth Management acquired a new position in ING Group during the 1st quarter valued at about $817,000. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Group Price Performance

Shares of NYSE ING opened at $32.88 on Thursday. The company’s 50-day moving average is $34.70 and its 200 day moving average is $31.33. ING Group has a 1 year low of $24.35 and a 1 year high of $37.52. The stock has a market capitalization of $94.03 billion, a P/E ratio of 11.32, a P/E/G ratio of 0.85 and a beta of 0.89.

About ING Group

ING Groep N.V. is a Netherlands-based international banking group headquartered in Amsterdam. Through its principal banking operations, ING provides retail and commercial banking services to individuals, businesses and institutions, with a strong emphasis on digital banking and mobile financial services.

The company’s products and services include current and savings accounts, consumer and residential lending, business loans, payments, investment services, and wholesale banking. Its wholesale banking operations serve corporate and institutional clients with services such as lending, transaction banking, financial markets, and corporate finance.