ING Groep (NYSE:ING – Get Free Report) was downgraded by analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Tuesday, MarketBeat.com reports.
A number of other research firms have also issued reports on ING. Citigroup raised ING Groep to a “strong-buy” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th.
Check Out Our Latest Analysis on ING Groep
ING Groep Stock Down 1.0 %
ING Groep (NYSE:ING – Get Free Report) last announced its earnings results on Thursday, August 1st. The financial services provider reported $0.58 EPS for the quarter. The business had revenue of $6.15 billion for the quarter. ING Groep had a net margin of 30.60% and a return on equity of 12.65%. During the same period in the previous year, the firm earned $0.65 earnings per share. Equities research analysts expect that ING Groep will post 2.04 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in ING. Mediolanum International Funds Ltd acquired a new stake in ING Groep in the third quarter valued at about $7,972,000. Bank of New York Mellon Corp raised its stake in shares of ING Groep by 150.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 599,012 shares of the financial services provider’s stock worth $10,267,000 after buying an additional 359,535 shares in the last quarter. Benson Investment Management Company Inc. acquired a new stake in shares of ING Groep in the 3rd quarter valued at approximately $5,204,000. Acadian Asset Management LLC acquired a new stake in shares of ING Groep in the 2nd quarter valued at approximately $4,626,000. Finally, Raymond James & Associates boosted its stake in shares of ING Groep by 49.7% in the third quarter. Raymond James & Associates now owns 794,658 shares of the financial services provider’s stock valued at $14,431,000 after buying an additional 263,904 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors and hedge funds.
About ING Groep
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.
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