US Bancorp DE Lowers Holdings in ING Groep NV (ING)
US Bancorp DE decreased its position in shares of ING Groep NV (NYSE:ING) by 6.0% during the fourth quarter, HoldingsChannel reports. The firm owned 170,904 shares of the financial services provider’s stock after selling 10,889 shares during the period. US Bancorp DE’s holdings in ING Groep were worth $3,154,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation raised its position in ING Groep by 1,021.8% during the third quarter. Zions Bancorporation now owns 7,011 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 6,386 shares in the last quarter. Bank of Nova Scotia Trust Co. purchased a new stake in ING Groep during the third quarter valued at about $156,000. Diligent Investors LLC purchased a new stake in ING Groep during the third quarter valued at about $190,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of ING Groep in the third quarter worth about $190,000. Finally, Glovista Investments LLC purchased a new position in shares of ING Groep in the third quarter worth about $217,000. Institutional investors and hedge funds own 3.03% of the company’s stock.
Several research firms have recently commented on ING. Zacks Investment Research upgraded ING Groep from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, January 16th. UBS Group reiterated a “buy” rating on shares of ING Groep in a report on Monday, December 11th. Finally, ValuEngine upgraded ING Groep from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $18.00.
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ING Groep Company Profile
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 that 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 that 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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