ING Groep (NYSE:ING – Get Rating)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.43 and last traded at $8.47, with a volume of 90076 shares trading hands. The stock had previously closed at $8.56.
Analyst Ratings Changes
ING has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of ING Groep from €13.00 ($13.27) to €12.00 ($12.24) in a research note on Tuesday, May 17th. JPMorgan Chase & Co. increased their target price on shares of ING Groep from €12.80 ($13.06) to €13.00 ($13.27) in a report on Wednesday. Morgan Stanley increased their target price on ING Groep from €13.50 ($13.78) to €14.00 ($14.29) in a research report on Monday, June 27th. The Goldman Sachs Group started coverage on ING Groep in a research report on Monday, May 30th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada cut their price target on ING Groep from €12.50 ($12.76) to €11.00 ($11.22) in a research note on Tuesday, July 12th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.74.
ING Groep Trading Up 2.8 %
The firm has a market cap of $34.68 billion, a PE ratio of 7.66, a P/E/G ratio of 0.83 and a beta of 1.63. The company has a current ratio of 1.09, a quick ratio of 1.10 and a debt-to-equity ratio of 1.65. The business has a fifty day moving average price of $9.29 and a 200 day moving average price of $10.00.
ING Groep Cuts Dividend
Institutional Trading of ING Groep
Several hedge funds have recently modified their holdings of ING. Fisher Asset Management LLC lifted its holdings in shares of ING Groep by 6.7% in the 1st quarter. Fisher Asset Management LLC now owns 51,706,217 shares of the financial services provider’s stock valued at $539,296,000 after buying an additional 3,261,755 shares during the period. Cambiar Investors LLC lifted its holdings in shares of ING Groep by 821.9% in the 2nd quarter. Cambiar Investors LLC now owns 3,275,409 shares of the financial services provider’s stock valued at $32,492,000 after buying an additional 2,920,134 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of ING Groep by 4,412.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,823,310 shares of the financial services provider’s stock valued at $19,017,000 after buying an additional 1,782,900 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of ING Groep by 27.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 7,851,043 shares of the financial services provider’s stock valued at $77,882,000 after buying an additional 1,673,262 shares during the period. Finally, FMR LLC lifted its holdings in shares of ING Groep by 29.8% in the 2nd quarter. FMR LLC now owns 4,621,059 shares of the financial services provider’s stock valued at $45,841,000 after buying an additional 1,060,586 shares during the period. 4.39% of the stock is owned by institutional investors and hedge funds.
ING Groep Company Profile
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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