ING Groep NV (NYSE:ING) has been given an average rating of “Hold” by the thirteen brokerages that are currently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $7.00.
A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of ING Groep and set an “outperform” rating for the company in a research note on Tuesday, March 17th. ValuEngine upgraded shares of ING Groep from a “sell” rating to a “hold” rating in a research note on Thursday, April 30th. Zacks Investment Research upgraded shares of ING Groep from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley reiterated a “neutral” rating on shares of ING Groep in a research report on Wednesday, May 27th. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of ING Groep in a research report on Wednesday, February 5th.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Morgan Stanley increased its holdings in ING Groep by 7.1% during the first quarter. Morgan Stanley now owns 19,481,236 shares of the financial services provider’s stock worth $100,328,000 after buying an additional 1,287,887 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in ING Groep during the first quarter worth $392,000. Advisor Group Holdings Inc. bought a new position in ING Groep during the first quarter worth $1,116,000. Jane Street Group LLC boosted its position in ING Groep by 7,692.0% during the first quarter. Jane Street Group LLC now owns 1,117,141 shares of the financial services provider’s stock worth $5,753,000 after purchasing an additional 1,102,804 shares during the period. Finally, Tudor Investment Corp Et Al bought a new position in ING Groep during the first quarter worth $63,000. Institutional investors and hedge funds own 4.10% of the company’s stock.
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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