Zacks Investment Research Lowers ING Groep (ING) to Sell

Zacks Investment Research cut shares of ING Groep (NYSE:ING) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

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. “

Several other research analysts have also issued reports on the company. ValuEngine upgraded ING Groep from a strong sell rating to a sell rating in a research note on Wednesday, January 2nd. Goldman Sachs Group reiterated a buy rating on shares of ING Groep in a research note on Monday, December 31st. Morgan Stanley upgraded ING Groep from an underweight rating to an equal weight rating in a research note on Friday, November 2nd. Finally, Royal Bank of Canada reiterated a neutral rating on shares of ING Groep in a research note on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $21.00.

ING stock traded down $0.01 during midday trading on Tuesday, hitting $11.32. The stock had a trading volume of 152,829 shares, compared to its average volume of 4,099,741. The stock has a market cap of $44.09 billion, a P/E ratio of 7.86 and a beta of 1.20. ING Groep has a 52 week low of $10.21 and a 52 week high of $20.58. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.12 and a quick ratio of 1.12.

ING Groep (NYSE:ING) last issued its earnings results on Thursday, November 1st. The financial services provider reported $0.23 EPS for the quarter. ING Groep had a return on equity of 9.05% and a net margin of 24.83%. The firm had revenue of $5.40 billion during the quarter. Equities research analysts anticipate that ING Groep will post 1.5 EPS for the current year.

Several large investors have recently made changes to their positions in the company. Dearborn Partners LLC increased its stake in shares of ING Groep by 34.6% in the third quarter. Dearborn Partners LLC now owns 19,214 shares of the financial services provider’s stock valued at $249,000 after buying an additional 4,934 shares in the last quarter. Baird Financial Group Inc. increased its stake in shares of ING Groep by 40.2% in the third quarter. Baird Financial Group Inc. now owns 23,875 shares of the financial services provider’s stock valued at $308,000 after buying an additional 6,850 shares in the last quarter. First Trust Advisors LP increased its stake in shares of ING Groep by 14.2% in the third quarter. First Trust Advisors LP now owns 56,969 shares of the financial services provider’s stock valued at $739,000 after buying an additional 7,077 shares in the last quarter. First Republic Investment Management Inc. increased its position in ING Groep by 8.1% in the second quarter. First Republic Investment Management Inc. now owns 113,405 shares of the financial services provider’s stock worth $1,624,000 after purchasing an additional 8,533 shares during the period. Finally, Belpointe Asset Management LLC acquired a new stake in ING Groep in the third quarter worth about $116,000. Institutional investors own 3.44% of the company’s stock.

About ING Groep

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.

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