ING Groep (NYSE:ING) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm presently has a $20.00 price target on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 10.01% from the company’s previous close.
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 several other reports. UBS reaffirmed a “buy” rating on shares of ING Groep in a research note on Tuesday, September 5th. Deutsche Bank reaffirmed a “buy” rating on shares of ING Groep in a research note on Thursday, October 12th. ValuEngine raised shares of ING Groep from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 22nd. Finally, Goldman Sachs Group raised shares of ING Groep from a “neutral” rating to a “buy” rating in a research note on Wednesday, September 6th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. ING Groep currently has an average rating of “Buy” and an average target price of $17.50.
A number of hedge funds and other institutional investors have recently bought and sold shares of ING. Arrowstreet Capital Limited Partnership grew its holdings in ING Groep by 161.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 7,592,428 shares of the financial services provider’s stock worth $132,032,000 after acquiring an additional 4,687,122 shares in the last quarter. Fisher Asset Management LLC grew its holdings in ING Groep by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 38,178,130 shares of the financial services provider’s stock worth $703,241,000 after acquiring an additional 2,168,788 shares in the last quarter. Wells Fargo & Company MN grew its holdings in ING Groep by 155.0% during the 2nd quarter. Wells Fargo & Company MN now owns 2,858,329 shares of the financial services provider’s stock worth $49,706,000 after acquiring an additional 1,737,235 shares in the last quarter. Chevy Chase Trust Holdings Inc. acquired a new position in ING Groep during the 3rd quarter worth approximately $22,685,000. Finally, Assetmark Inc. grew its holdings in ING Groep by 5,421.5% during the 3rd quarter. Assetmark Inc. now owns 711,665 shares of the financial services provider’s stock worth $13,109,000 after acquiring an additional 698,776 shares in the last quarter. Institutional investors own 2.97% of the company’s stock.
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About ING Groep
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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