Royal Bank of Canada lowers ING Groep (NYSE:ING) price target to €14.50

ING Group (NYSE: ING) had its price target lowered by Royal Bank of Canada research analysts from €15.00 ($16.85) to €14.50 ($16.29) in a note issued to investors on Friday, reports The Fly.

A number of other equity analysts have also recently commented on ING. Zacks Investment Research downgraded ING Groep shares from a “hold” rating to a “sell” rating in a Wednesday, Jan. 5 report. UBS Group reissued a “buy” rating on ING Groep shares in a report on Friday, October 8. Goldman Sachs downgraded ING Groep shares from a “buy” rating to a “neutral” rating in a Thursday, November 25 report. Morgan Stanley raised its price target on ING Groep shares from €15.00 ($16.85) to €15.40 ($17.30) and gave the company an ‘equal weight’ rating in a report released Friday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on ING Groep shares in a report on Tuesday, November 16. Three investment analysts have assigned the stock a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ING Groep has an average rating of “Hold” and an average target price of $13.96.

NYSE ING was up $0.26 in Friday’s midday session, hitting $15.21. The company had a trading volume of 4,171,580 shares, compared to its average volume of 4,531,278. The company has a quick ratio of 1.09, a current ratio of 1.09 and a leverage ratio of 1.64. The stock has a market capitalization of $59.33 billion, a price/earnings ratio of 10.86, a P/E/G ratio of 0.26 and a beta of 1.79. The company has a fifty-day simple moving average of $14.35 and a two-hundred-day simple moving average of $14.21. ING Groep has a fifty-two week low of $9.24 and a fifty-two week high of $15.65.

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ING Groep (NYSE:ING) last released its quarterly earnings data 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 net margin of 25.27% and a return on equity of 8.37%. As a group, stock analysts predict ING Groep will post 1.5 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently changed their holdings in ING. Spire Wealth Management acquired a new position in ING Groep during the fourth quarter worth approximately $26,000. Deutsche Bank AG acquired a new position in ING Groep during the second quarter worth approximately $30,000. CWM LLC acquired a new position in ING Groep during the fourth quarter valued at approximately $30,000. Harbor Investment Advisory LLC bought a new position in ING Groep in the fourth quarter worth approximately $55,000. Finally, Liberty Wealth Management LLC bought a new position in ING Groep in the second quarter worth approximately $64,000. Hedge funds and other institutional investors hold 3.69% of the company’s shares.

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.

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Analyst recommendations for ING Groep (NYSE: ING)

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