ING Groep (NYSE:ING) Given New €15.30 Price Target at UBS Group

ING Groep (NYSE:ING – Get Rating) had its price target increased by investment analysts at UBS Group from €14.40 ($15.65) to €15.30 ($16.63) in a note issued to investors on Wednesday, The Fly reports.

ING has been the subject of several other reports. Zacks Investment Research lowered ING Groep from a “hold” rating to a “sell” rating in a research note on Tuesday, March 22nd. StockNews.com began coverage on ING Groep in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays raised shares of ING Groep from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, March 23rd. Morgan Stanley dropped their target price on shares of ING Groep from €15.60 ($16.96) to €13.00 ($14.13) in a research report on Thursday, March 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of ING Groep from €15.00 ($16.30) to €12.70 ($13.80) in a research report on Monday, March 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $13.90.

ING Groep stock traded up $0.10 during midday trading on Wednesday, hitting $10.11. The company’s stock had a trading volume of 239,891 shares, compared to its average volume of 7,032,440. ING Groep has a 12 month low of $8.97 and a 12 month high of $15.97. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $39.44 billion, a PE ratio of 6.88, a price-to-earnings-growth ratio of 0.75 and a beta of 1.85. The stock’s 50-day moving average price is $11.77 and its 200-day moving average price is $13.61.

ING Groep (NYSE:ING – Get Rating) last released its earnings results on Thursday, February 3rd. The financial services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $4.94 billion. ING Groep had a return on equity of 8.68% and a net margin of 25.83%. As a group, equities analysts anticipate that ING Groep will post 1.03 EPS for the current year.

Several institutional investors have recently bought and sold shares of ING. Fisher Asset Management LLC raised its holdings in shares of ING Groep by 4.5% during the fourth quarter. Fisher Asset Management LLC now owns 48,444,462 shares of the financial services provider’s stock worth $674,347,000 after acquiring an additional 2,066,770 shares in the last quarter. Bank of America Corp DE increased its position in ING Groep by 0.8% in the 4th quarter. Bank of America Corp DE now owns 9,348,693 shares of the financial services provider’s stock worth $130,134,000 after purchasing an additional 75,281 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of ING Groep by 5.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,597,972 shares of the financial services provider’s stock worth $91,844,000 after purchasing an additional 364,704 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of ING Groep by 0.7% during the 4th quarter. Parametric Portfolio Associates LLC now owns 5,118,783 shares of the financial services provider’s stock valued at $71,253,000 after buying an additional 37,132 shares during the last quarter. Finally, Capital International Investors grew its stake in shares of ING Groep by 7.6% in the 4th quarter. Capital International Investors now owns 3,290,826 shares of the financial services provider’s stock valued at $45,677,000 after buying an additional 233,546 shares in the last quarter. Institutional investors and hedge funds own 3.78% of the company’s stock.

ING Groep Company Profile (Get Rating)

ING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, 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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