ING Groep Target of Unusually Large Options Trading (ING)
ING Groep NV (NYSE:ING) saw some unusual options trading activity on Wednesday. Stock investors bought 1,484 put options on the stock. This is an increase of approximately 783% compared to the typical volume of 168 put options.
Institutional investors have recently added to or reduced their stakes in the company. We Are One Seven LLC purchased a new stake in shares of ING Groep during the 4th quarter worth $101,000. Private Capital Group LLC lifted its position in shares of ING Groep by 797.9% during the 1st quarter. Private Capital Group LLC now owns 8,279 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 7,357 shares during the last quarter. Signaturefd LLC purchased a new stake in shares of ING Groep during the 1st quarter worth $186,000. Miles Capital Inc. purchased a new stake in shares of ING Groep during the 1st quarter worth $190,000. Finally, Icon Wealth Partners LLC purchased a new stake in shares of ING Groep during the 4th quarter worth $202,000. 3.62% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on ING. ValuEngine cut shares of ING Groep from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 3rd. Zacks Investment Research raised shares of ING Groep from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Friday, February 9th. Finally, UBS Group reaffirmed a “buy” rating on shares of ING Groep in a research report on Tuesday, April 24th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. ING Groep currently has a consensus rating of “Buy” and a consensus target price of $21.00.
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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