Shares of ING Groep (NYSE:ING) have been given an average rating of “Buy” by the twelve research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $15.00.
Several analysts have weighed in on the company. Barclays downgraded ING Groep from an “equal weight” rating to an “underweight” rating in a research note on Friday, June 4th. Credit Suisse Group restated an “outperform” rating on shares of ING Groep in a research report on Friday, May 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of ING Groep in a report on Monday, April 12th. Morgan Stanley restated an “overweight” rating on shares of ING Groep in a report on Monday, May 10th. Finally, AlphaValue upgraded shares of ING Groep to a “sell” rating in a research note on Friday, February 19th.
A number of hedge funds have recently made changes to their positions in the stock. Fisher Asset Management LLC boosted its stake in shares of ING Groep by 6.0% during the 1st quarter. Fisher Asset Management LLC now owns 41,706,093 shares of the financial services provider’s stock worth $510,066,000 after purchasing an additional 2,370,067 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of ING Groep by 5.8% during the first quarter. Royal Bank of Canada now owns 5,881,014 shares of the financial services provider’s stock valued at $71,925,000 after buying an additional 321,503 shares during the period. Aristotle Capital Management LLC boosted its position in ING Groep by 7.4% during the fourth quarter. Aristotle Capital Management LLC now owns 4,407,912 shares of the financial services provider’s stock worth $41,611,000 after acquiring an additional 305,125 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in ING Groep by 9.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,705,411 shares of the financial services provider’s stock worth $45,317,000 after acquiring an additional 329,199 shares during the period. Finally, BlackRock Inc. raised its holdings in ING Groep by 438.4% in the 1st quarter. BlackRock Inc. now owns 3,023,787 shares of the financial services provider’s stock valued at $36,981,000 after acquiring an additional 2,462,204 shares during the last quarter. 3.89% of the stock is owned by hedge funds and other institutional investors.
ING Groep (NYSE:ING) last announced its quarterly earnings results on Thursday, May 6th. The financial services provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.06. ING Groep had a net margin of 16.01% and a return on equity of 5.33%. The company had revenue of $5.67 billion for the quarter, compared to analysts’ expectations of $5.41 billion. As a group, research analysts predict that ING Groep will post 1.35 EPS for the current fiscal year.
About ING Groep
ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises, and mid-corporates. It operates in Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking segments. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans.
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