ING Groep (NYSE:ING) Upgraded to Buy at The Goldman Sachs Group

ING Groep (NYSE:ING) was upgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday,Briefing.com Automated Import reports.

ING Groep Trading Down 1.1 %

Shares of ING Groep stock opened at $20.06 on Thursday. ING Groep has a 12-month low of $15.09 and a 12-month high of $20.79. The firm’s 50 day simple moving average is $17.94 and its two-hundred day simple moving average is $17.02. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The firm has a market capitalization of $70.16 billion, a price-to-earnings ratio of 9.37, a PEG ratio of 6.42 and a beta of 1.44.

ING Groep (NYSE:ING) last issued its earnings results on Thursday, February 6th. The financial services provider reported $0.39 earnings per share (EPS) 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%. Analysts predict that ING Groep will post 2.14 EPS for the current year.

Hedge Funds Weigh In On ING Groep

A number of institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its position in ING Groep by 129.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 166,677 shares of the financial services provider’s stock valued at $2,612,000 after purchasing an additional 94,080 shares during the period. Challenger Wealth Management acquired a new position in shares of ING Groep in the 4th quarter valued at about $329,000. Forum Financial Management LP boosted its stake in shares of ING Groep by 10.4% in the fourth quarter. Forum Financial Management LP now owns 47,283 shares of the financial services provider’s stock worth $741,000 after buying an additional 4,467 shares during the last quarter. Parr Mcknight Wealth Management Group LLC purchased a new stake in shares of ING Groep in the fourth quarter worth about $195,000. Finally, Waverly Advisors LLC acquired a new stake in ING Groep during the fourth quarter worth about $398,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

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.