ING Groep shares (NYSE:ING – Get a rating) received a consensus “moderate buy” recommendation from the eleven analysts who cover the stock, Market Beat Ratings reports. Two research analysts rated the stock with a hold recommendation and two gave the company a buy recommendation. The 12-month average target price among brokerages that have reported on the stock over the past year is $13.64.
Several research analysts have weighed in on ING shares. Deutsche Bank Aktiengesellschaft raised its price target on ING Groep shares from €15.00 ($15.46) to €16.00 ($16.49) in a Wednesday, November 9 research report. Societe Generale lowered its price target on ING Groep shares from €14.00 ($14.43) to €12.50 ($12.89) in a Friday, November 4 research report. UBS Group raised its price target on ING Groep shares from €15.00 ($15.46) to €15.80 ($16.29) in a Monday, November 7 research report. Royal Bank of Canada raised its price target on ING Groep shares from €11.75 ($12.11) to €13.00 ($13.40) and assigned the stock a rating of “sector performance” in a Monday, Nov. 7 research report. Finally, Credit Suisse Group raised its target price on ING Groep shares from €13.50 ($13.92) to €14.00 ($14.43) and assigned the company a rating of “outperformance” in a research report from Friday, September 30.
ING Groep is trading down 0.4%
NYSE ING opened at $11.47 on Tuesday. The stock has a market capitalization of $44.74 billion, a P/E ratio of 11.36, a P/E/G ratio of 0.83 and a beta of 1.56. ING Groep has a 52-week low of $8.14 and a 52-week high of $15.97. The company has a 50-day moving average price of $9.51 and a 200-day moving average price of $9.68. The company has a quick ratio of 1.10, a current ratio of 1.09 and a debt ratio of 1.65.
Institutional entries and exits
Several hedge funds have recently increased or reduced their holdings in the stock. Guardian Capital Advisors LP increased its stake in ING Groep by 30.6% during the third quarter. Guardian Capital Advisors LP now owns 803,076 shares of the financial services provider worth $6,826,000 after acquiring an additional 188,150 shares in the last quarter. Point72 Asset Management LP increased its holdings in ING Groep by 116.4% during the third quarter. Point72 Asset Management LP now owns 692,600 shares of the financial services provider worth $5,887,000 after acquiring an additional 372,600 shares in the last quarter. Sanders Capital LLC increased its stake in ING Groep by 46.8% during the third quarter. Sanders Capital LLC now owns 203,902 shares of the financial services provider worth $1,733,000 after acquiring an additional 65,000 shares last quarter. OLD Mission Capital LLC acquired a new position in ING Groep during Q3 worth $5,325,000. Finally, MML Investors Services LLC increased its stake in ING Groep by 9.0% during the 3rd quarter. MML Investors Services LLC now owns 46,836 shares of the financial services provider worth $398,000 after acquiring an additional 3,860 shares in the last quarter. 4.39% of the shares are held by institutional investors and hedge funds.
About ING Group
ING Groep NV, a financial institution, offers various banking products and services in the Netherlands, Belgium, Germany, Poland, the rest of Europe, North America, Latin America, Asia and Australia . It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking and Corporate Line Banking.
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