Eqis Capital Management Inc. bought a new position in ING Groep NV (NYSE:ING) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 11,848 shares of the financial services provider’s stock, valued at approximately $126,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Shine Investment Advisory Services Inc. boosted its position in shares of ING Groep by 20.5% in the fourth quarter. Shine Investment Advisory Services Inc. now owns 8,503 shares of the financial services provider’s stock worth $91,000 after acquiring an additional 1,448 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of ING Groep in the third quarter worth approximately $116,000. Hilltop Holdings Inc. acquired a new stake in shares of ING Groep in the third quarter worth approximately $130,000. Bailard Inc. acquired a new stake in shares of ING Groep in the third quarter worth approximately $133,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of ING Groep in the third quarter worth approximately $136,000. 3.44% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on ING. Zacks Investment Research raised shares of ING Groep from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Goldman Sachs Group reaffirmed a “buy” rating on shares of ING Groep in a research report on Tuesday, December 25th. Morgan Stanley raised shares of ING Groep from an “underweight” rating to an “equal weight” rating in a research report on Friday, November 2nd. ValuEngine raised shares of ING Groep from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Finally, Credit Suisse Group raised shares of ING Groep from an “underperform” rating to a “neutral” rating in a research report on Tuesday, January 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $21.00.
Shares of ING stock opened at $11.94 on Wednesday. The company has a market cap of $45.73 billion, a price-to-earnings ratio of 8.29 and a beta of 1.22. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.12 and a current ratio of 1.12. ING Groep NV has a fifty-two week low of $10.21 and a fifty-two week high of $19.01.
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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