Trade Report: Today, ING Groep NV (ING) Lowered by The Zacks Investment Research to Sell

Today, ING Groep NV (ING) Lowered by The Zacks Investment Research to Sell

ING Groep NV (NYSE:ING) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and 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. “

A number of other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. reissued a “buy” rating on shares of ING Groep NV in a research report on Tuesday, September 6th. RBC Capital Markets raised shares of ING Groep NV from a “sector perform” rating to an “outperform” rating in a research report on Friday, September 23rd. Finally, Royal Bank Of Canada raised shares of ING Groep NV from a “sector perform” rating to an “outperform” rating in a research report on Friday, September 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $13.63.

ING Groep NV (NYSE:ING) traded up 0.07% during trading on Tuesday, hitting $13.51. 967,991 shares of the stock traded hands. The stock has a market cap of $52.38 billion, a P/E ratio of 10.43 and a beta of 1.55. ING Groep NV has a 52-week low of $9.26 and a 52-week high of $14.35. The stock has a 50 day moving average price of $13.18 and a 200-day moving average price of $12.04.

A number of large investors have recently added to or reduced their stakes in the stock. Schafer Cullen Capital Management Inc. boosted its stake in ING Groep NV by 73.5% in the third quarter. Schafer Cullen Capital Management Inc. now owns 106,870 shares of the company’s stock worth $1,319,000 after buying an additional 45,275 shares in the last quarter. Nuveen Fund Advisors LLC boosted its stake in ING Groep NV by 54.1% in the third quarter. Nuveen Fund Advisors LLC now owns 92,317 shares of the company’s stock worth $1,139,000 after buying an additional 32,415 shares in the last quarter. Two Sigma Securities LLC bought a new stake in ING Groep NV during the third quarter worth about $495,000. Two Sigma Advisers LP boosted its stake in ING Groep NV by 369.7% in the third quarter. Two Sigma Advisers LP now owns 486,100 shares of the company’s stock worth $5,998,000 after buying an additional 382,600 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in ING Groep NV by 51.4% in the third quarter. HighTower Advisors LLC now owns 165,712 shares of the company’s stock worth $2,036,000 after buying an additional 56,240 shares in the last quarter. 1.93% of the stock is currently owned by hedge funds and other institutional investors.

About ING Groep NV

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 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 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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