Zacks Investment Research upgraded shares of ING Groep (NYSE:ING) from a sell rating to a hold rating in a report issued on Wednesday.
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. “
A number of other brokerages have also recently commented on ING. JPMorgan Chase & Co. cut shares of ING Groep from an overweight rating to a neutral rating in a research note on Monday, September 3rd. ValuEngine cut shares of ING Groep from a hold rating to a sell rating in a research note on Saturday, June 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. ING Groep currently has an average rating of Hold and a consensus target price of $21.00.
ING Groep (NYSE:ING) last issued its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.44 EPS for the quarter. The business had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.06 billion. ING Groep had a net margin of 28.47% and a return on equity of 10.28%. analysts expect that ING Groep will post 1.57 EPS for the current year.
The company also recently disclosed a special dividend, which was paid on Tuesday, August 21st. Stockholders of record on Monday, August 13th were paid a dividend of $0.2799 per share. The ex-dividend date was Friday, August 10th. This represents a dividend yield of 6.86%. ING Groep’s payout ratio is 30.56%.
Several hedge funds and other institutional investors have recently modified their holdings of ING. Wells Fargo & Company MN grew its stake in shares of ING Groep by 2.4% during the 1st quarter. Wells Fargo & Company MN now owns 3,147,756 shares of the financial services provider’s stock worth $53,292,000 after purchasing an additional 72,893 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in ING Groep in the 1st quarter valued at $348,000. ETRADE Capital Management LLC grew its stake in ING Groep by 43.6% in the 1st quarter. ETRADE Capital Management LLC now owns 60,972 shares of the financial services provider’s stock valued at $1,032,000 after acquiring an additional 18,518 shares during the period. Aperio Group LLC grew its stake in ING Groep by 5.7% in the 1st quarter. Aperio Group LLC now owns 1,183,939 shares of the financial services provider’s stock valued at $20,044,000 after acquiring an additional 63,679 shares during the period. Finally, Neuberger Berman Group LLC grew its stake in ING Groep by 4.3% in the 1st quarter. Neuberger Berman Group LLC now owns 91,339 shares of the financial services provider’s stock valued at $1,546,000 after acquiring an additional 3,756 shares during the period. 3.54% of the stock is currently owned by institutional investors and hedge funds.
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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