ING Groep NV (ING) Receives Consensus Recommendation of “Buy” from Analysts

ING Groep NV (NYSE:ING) has been given a consensus rating of “Buy” by the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $14.00.

ING has been the subject of a number of research analyst reports. Zacks Investment Research upgraded ING Groep from a “sell” rating to a “strong-buy” rating and set a $14.00 price target for the company in a research report on Thursday, May 9th. ValuEngine cut ING Groep from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 5th. Finally, Royal Bank of Canada upgraded ING Groep from a “sector perform” rating to an “outperform” rating in a research report on Thursday, March 21st.

Several hedge funds have recently made changes to their positions in the company. Rehmann Capital Advisory Group increased its position in shares of ING Groep by 10.0% in the first quarter. Rehmann Capital Advisory Group now owns 24,941 shares of the financial services provider’s stock valued at $303,000 after buying an additional 2,267 shares in the last quarter. Lincluden Management Ltd. increased its position in shares of ING Groep by 39.8% in the first quarter. Lincluden Management Ltd. now owns 430,718 shares of the financial services provider’s stock valued at $5,229,000 after buying an additional 122,645 shares in the last quarter. BlueCrest Capital Management Ltd purchased a new position in shares of ING Groep in the first quarter valued at $309,000. HighTower Advisors LLC increased its position in shares of ING Groep by 14.2% in the first quarter. HighTower Advisors LLC now owns 295,744 shares of the financial services provider’s stock valued at $3,570,000 after buying an additional 36,850 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its position in shares of ING Groep by 42.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 49,346 shares of the financial services provider’s stock valued at $605,000 after buying an additional 14,730 shares in the last quarter. Institutional investors and hedge funds own 3.46% of the company’s stock.

ING Groep stock opened at $11.00 on Monday. ING Groep has a one year low of $10.21 and a one year high of $15.36. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $42.81 billion, a price-to-earnings ratio of 6.71 and a beta of 1.23.

The company also recently declared a semiannual dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were given a $0.4974 dividend. This represents a dividend yield of 8.31%. The ex-dividend date was Thursday, April 25th. ING Groep’s dividend payout ratio is currently 48.78%.

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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Analyst Recommendations for ING Groep (NYSE:ING)

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