ING Groep (NYSE: ING) receives an average rating of “Hold” from brokerages
ING Groep (NYSE:ING) has been assigned an average rating of “Hold” by the thirteen rating agencies that currently cover the company, Marketbeat reports. Three research analysts rated the stock with a sell rating, five gave the company a hold rating and five gave the company a buy rating.
A number of analysts have recently commented on ING shares. UBS Group reiterated a “buy” rating on ING Groep shares in a report on Friday, October 8. Zacks Investment Research downgraded ING Groep from a “hold” rating to a “sell” rating in a Wednesday, January 5, report. Morgan Stanley downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a Friday, November 19 report. The Royal Bank of Canada downgraded ING Groep from an “outperform” rating to an “sector performance” rating in a Thursday, Dec. 2 report. Finally, Goldman Sachs downgraded ING Groep from a “buy” rating to a “neutral” rating in a report on Thursday, November 25.
A number of hedge funds and other institutional investors have recently changed their positions in ING. Mercer Global Advisors Inc. ADV increased its position in ING Groep by 8.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 39,292 shares of the financial services provider worth $520,000 after buying 2,941 additional shares in the last quarter. Cresset Asset Management LLC increased its position in ING Groep by 6.2% during the second quarter. Cresset Asset Management LLC now owns 20,243 shares of the financial services provider worth $268,000 after buying 1,186 additional shares in the last quarter. Deutsche Bank AG acquired a new position in ING Groep shares in the second quarter worth around $30,000. Bank of New York Mellon Corp increased its position in ING Groep shares by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 127,517 shares of the financial services provider valued at $1,688,000 after buying an additional 6,339 shares in the last quarter. Finally, Commonwealth Equity Services LLC acquired a new position in ING Groep shares in the second quarter worth approximately $262,000. 3.69% of the shares are currently held by hedge funds and other institutional investors.
ING shares opened Wednesday at $15.27. The company has a fifty-day moving average price of $14.34 and a 200-day moving average price of $14.04. ING Groep has a fifty-two week minimum of $8.65 and a fifty-two week maximum of $15.65. The stock has a market capitalization of $59.56 billion, a price/earnings ratio of 10.91, a P/E/G ratio of 0.26 and a beta of 1.89. The company has a debt ratio of 1.64, a current ratio of 1.09 and a quick ratio of 1.09.
ING Groep (NYSE:ING) last released its results on Thursday, November 4. The financial services provider reported EPS of $0.41 for the quarter. The company had revenue of $5.48 billion in the quarter. ING Groep achieved a return on equity of 8.37% and a net margin of 25.27%. On average, stock analysts expect ING Groep to post 1.5 earnings per share for the current fiscal year.
About ING Group
ING Groep NV provides banking, investment, life and non-life insurance, pension and asset management services. It operates through the following segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other and Wholesale Banking. The Retail Netherlands segment offers current and savings accounts, business loans, mortgages and consumer loans.
Feature article: Return on equity (ROE)
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