ING Groep (NYSE:ING) Stock Rating Upgraded by The Goldman Sachs Group

ING Groep (NYSE:ING) was upgraded by stock analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a report issued on Thursday, Marketbeat reports.

ING Groep Trading Down 1.1 %

Shares of ING opened at $19.83 on Thursday. The firm has a market cap of $69.35 billion, a P/E ratio of 9.26, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. ING Groep has a 1 year low of $15.09 and a 1 year high of $20.79. The company has a 50 day simple moving average of $18.09 and a two-hundred day simple moving average of $17.06.

ING Groep (NYSE:ING) last issued its earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. On average, equities analysts expect that ING Groep will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ING Groep

Institutional investors have recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in ING Groep by 1.7% during the fourth quarter. Huntington National Bank now owns 35,030 shares of the financial services provider’s stock worth $549,000 after buying an additional 597 shares during the period. IFP Advisors Inc boosted its stake in shares of ING Groep by 25.1% during the 4th quarter. IFP Advisors Inc now owns 3,095 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 621 shares during the period. SRS Capital Advisors Inc. boosted its position in shares of ING Groep by 20.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,985 shares of the financial services provider’s stock valued at $62,000 after buying an additional 665 shares during the period. Dorsey & Whitney Trust CO LLC raised its holdings in shares of ING Groep by 1.8% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 41,553 shares of the financial services provider’s stock worth $651,000 after buying an additional 716 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in shares of ING Groep by 5.2% during the 4th quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 14,604 shares of the financial services provider’s stock worth $229,000 after acquiring an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Groep Company Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.