Zacks Investment Research Downgrades ING Groep (ING) to Hold
ING Groep (NYSE:ING) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “ING GROEP-ADR is a global financial institution of Dutch origin offering banking, insurance and asset management to over 50 million private, corporate and institutional clients in 65 countries. ING can fully deliver what today’s clients expect: unlimited access, maximum convenience, immediate and accurate execution, personal advice, tailor-made solutions and competitive rates. “
ING has been the topic of a number of other research reports. ValuEngine upgraded ING Groep from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. UBS Group reiterated a “buy” rating on shares of ING Groep in a report on Monday, December 11th. Finally, Goldman Sachs Group reiterated a “buy” rating on shares of ING Groep in a report on Wednesday, December 6th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $18.00.
Large investors have recently made changes to their positions in the business. Zions Bancorporation grew its holdings in ING Groep by 1,021.8% during the 3rd quarter. Zions Bancorporation now owns 7,011 shares of the financial services provider’s stock valued at $129,000 after buying an additional 6,386 shares during the last quarter. Bank of Nova Scotia Trust Co. acquired a new stake in shares of ING Groep during the third quarter worth $156,000. Diligent Investors LLC acquired a new stake in shares of ING Groep during the third quarter worth $190,000. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of ING Groep during the third quarter worth $190,000. Finally, Icon Wealth Partners LLC acquired a new stake in shares of ING Groep during the fourth quarter worth $202,000. Hedge funds and other institutional investors own 3.03% of the company’s stock.
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ING Groep Company Profile
ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company’s segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease.
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