ING Groep (NYSE:ING) Price Target Raised to €12.80

ING Groep (NYSE:ING – Get Rating) had its target price raised by research analysts at JPMorgan Chase & Co. from €12.70 ($13.23) to €12.80 ($13.33) in a report issued on Thursday, The Fly reports. The firm currently has an “overweight” rating on the financial services provider’s stock.

ING has been the topic of several other research reports. Royal Bank of Canada dropped their price target on ING Groep from €10.50 ($10.94) to €10.00 ($10.42) in a report on Tuesday, May 10th. Morgan Stanley lowered their price objective on shares of ING Groep from €15.60 ($16.25) to €13.00 ($13.54) in a research report on Thursday, March 24th. Berenberg Bank lowered their price objective on shares of ING Groep from €14.50 ($15.10) to €13.00 ($13.54) in a research report on Wednesday, April 20th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of ING Groep from €13.00 ($13.54) to €12.00 ($12.50) in a research report on Tuesday. Finally, Barclays upgraded shares of ING Groep from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, March 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $13.08.

Shares of NYSE ING traded up $0.22 during trading on Thursday, hitting $10.09. The company had a trading volume of 585,888 shares, compared to its average volume of 7,675,811. The company has a market cap of $39.36 billion, a P/E ratio of 7.87, a PEG ratio of 0.64 and a beta of 1.76. ING Groep has a 52 week low of $8.97 and a 52 week high of $15.97. The business’s 50-day moving average is $10.08 and its 200 day moving average is $12.71. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.10 and a current ratio of 1.10.

Several institutional investors have recently bought and sold shares of ING. Millennium Management LLC grew its holdings in shares of ING Groep by 29.1% during the 2nd quarter. Millennium Management LLC now owns 21,268 shares of the financial services provider’s stock valued at $282,000 after acquiring an additional 4,800 shares in the last quarter. Morgan Stanley boosted its holdings in ING Groep by 47.7% in the second quarter. Morgan Stanley now owns 937,919 shares of the financial services provider’s stock worth $12,419,000 after purchasing an additional 303,014 shares in the last quarter. Barclays PLC boosted its holdings in ING Groep by 2,647.2% in the third quarter. Barclays PLC now owns 11,923 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 11,489 shares in the last quarter. Creative Planning bought a new stake in ING Groep in the third quarter worth $1,642,000. Finally, Goldman Sachs Group Inc. boosted its holdings in ING Groep by 46.7% in the third quarter. Goldman Sachs Group Inc. now owns 6,233,268 shares of the financial services provider’s stock worth $90,320,000 after purchasing an additional 1,983,134 shares in the last quarter. Institutional investors and hedge funds own 9.33% of the company’s stock.

About ING Groep (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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