ING Groep’s (ING) “Buy” Rating Reaffirmed at UBS Group

ING Groep (NYSE:ING)‘s stock had its “buy” rating reissued by equities researchers at UBS Group in a research report issued to clients and investors on Thursday, Borsen Zeitung reports.

A number of other research firms have also weighed in on ING. Zacks Investment Research lowered shares of ING Groep from a “hold” rating to a “sell” rating in a research report on Tuesday. Barclays began coverage on shares of ING Groep in a research report on Friday, June 14th. They set an “underweight” rating and a $11.15 price target on the stock. BNP Paribas lowered shares of ING Groep from an “outperform” rating to a “neutral” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised shares of ING Groep from a “neutral” rating to an “overweight” rating in a research report on Wednesday, June 5th. Finally, ValuEngine raised shares of ING Groep from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. ING Groep presently has an average rating of “Hold” and an average price target of $12.58.

Shares of ING traded down $0.03 during trading hours on Thursday, reaching $9.99. 101,462 shares of the stock traded hands, compared to its average volume of 3,327,781. The company has a current ratio of 0.96, a quick ratio of 1.13 and a debt-to-equity ratio of 2.34. The stock has a fifty day simple moving average of $9.99 and a 200 day simple moving average of $11.29. ING Groep has a 52 week low of $9.22 and a 52 week high of $13.72. The company has a market cap of $40.71 billion, a price-to-earnings ratio of 6.07, a PEG ratio of 3.69 and a beta of 1.34.

ING Groep (NYSE:ING) last released its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.42 earnings per share for the quarter. ING Groep had a net margin of 24.99% and a return on equity of 8.83%. The company had revenue of $5.24 billion for the quarter. Analysts predict that ING Groep will post 1.45 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in ING. Wells Fargo & Company MN raised its position in ING Groep by 4.7% in the first quarter. Wells Fargo & Company MN now owns 3,231,082 shares of the financial services provider’s stock worth $39,225,000 after acquiring an additional 145,097 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in ING Groep by 21.1% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 5,204 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 907 shares during the period. Evergreen Capital Management LLC raised its position in ING Groep by 8.8% in the first quarter. Evergreen Capital Management LLC now owns 14,588 shares of the financial services provider’s stock worth $177,000 after acquiring an additional 1,179 shares during the period. Sawtooth Solutions LLC bought a new stake in ING Groep in the first quarter worth about $135,000. Finally, Rockefeller Capital Management L.P. raised its position in ING Groep by 27.2% in the first quarter. Rockefeller Capital Management L.P. now owns 47,078 shares of the financial services provider’s stock worth $571,000 after acquiring an additional 10,067 shares during the period. 3.22% of the stock is currently owned by institutional investors and hedge funds.

ING Groep Company Profile

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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Analyst Recommendations for ING Groep (NYSE:ING)

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