ING Groep (NYSE:ING) Now Covered by Analysts at StockNews.com

Research analysts at StockNews.com began coverage on shares of ING Groep (NYSE:ING – Get Rating) in a note issued to investors on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on the company. Societe Generale downgraded ING Groep from a “buy” rating to a “hold” rating in a report on Friday, February 3rd. JPMorgan Chase & Co. boosted their price target on ING Groep from €13.00 ($13.98) to €13.40 ($14.41) in a research note on Wednesday, December 7th. Finally, Morgan Stanley boosted their price target on ING Groep from €14.00 ($15.05) to €16.00 ($17.20) and gave the company an “overweight” rating in a research note on Friday, November 18th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.91.

ING Groep Trading Down 8.7 %

Shares of ING opened at $11.59 on Thursday. ING Groep has a fifty-two week low of $8.14 and a fifty-two week high of $14.72. The business’s 50-day moving average is $13.67 and its 200-day moving average is $11.58.

Institutional Investors Weigh In On ING Groep

A number of large investors have recently added to or reduced their stakes in ING. Bank of New York Mellon Corp boosted its position in ING Groep by 17.0% during the first quarter. Bank of New York Mellon Corp now owns 202,967 shares of the financial services provider’s stock worth $2,117,000 after purchasing an additional 29,528 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of ING Groep by 17.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 20,836 shares of the financial services provider’s stock worth $217,000 after buying an additional 3,060 shares during the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of ING Groep by 11.7% during the first quarter. Cetera Advisor Networks LLC now owns 16,011 shares of the financial services provider’s stock worth $167,000 after buying an additional 1,673 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of ING Groep by 12.8% during the first quarter. Private Advisor Group LLC now owns 14,346 shares of the financial services provider’s stock worth $149,000 after buying an additional 1,633 shares during the last quarter. Finally, Cibc World Market Inc. lifted its holdings in shares of ING Groep by 5.0% during the first quarter. Cibc World Market Inc. now owns 183,067 shares of the financial services provider’s stock worth $1,909,000 after buying an additional 8,764 shares during the last quarter. Institutional investors own 3.99% of the company’s stock.

ING Groep Company Profile

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ING Groep NV engages in the provision of banking, investments, life and non-life insurance, and retirement and asset management services. It operates through the following segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line. The Retail Netherlands segment offers current and savings accounts, business lending, mortgages, and consumer lending.