ING Groep NV (NYSE:ING) shares gapped up before the market opened on Thursday . The stock had previously closed at $13.15, but opened at $13.10. ING Groep shares last traded at $12.97, with a volume of 193708 shares traded.

Several brokerages recently issued reports on ING. ValuEngine upgraded shares of ING Groep from a “strong sell” rating to a “sell” rating in a research report on Friday, November 2nd. Morgan Stanley upgraded shares of ING Groep from an “underweight” rating to an “equal weight” rating in a research report on Friday, November 2nd. Royal Bank of Canada reiterated a “neutral” rating on shares of ING Groep in a research report on Thursday, November 1st. Zacks Investment Research upgraded shares of ING Groep from a “sell” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, JPMorgan Chase & Co. downgraded shares of ING Groep from an “overweight” rating to a “neutral” rating in a research report on Monday, September 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $21.00.

The stock has a market capitalization of $50.90 billion, a PE ratio of 8.90 and a beta of 1.21. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.12 and a current ratio of 1.12.

A number of hedge funds and other institutional investors have recently modified their holdings of ING. Millennium Management LLC acquired a new position in ING Groep during the 1st quarter valued at about $543,000. Confluence Investment Management LLC acquired a new position in ING Groep during the 2nd quarter valued at about $1,694,000. Bank of Montreal Can lifted its position in ING Groep by 203.5% during the 2nd quarter. Bank of Montreal Can now owns 437,559 shares of the financial services provider’s stock valued at $6,266,000 after purchasing an additional 293,392 shares during the period. AMG National Trust Bank lifted its position in ING Groep by 2.6% during the 2nd quarter. AMG National Trust Bank now owns 193,963 shares of the financial services provider’s stock valued at $2,778,000 after purchasing an additional 4,861 shares during the period. Finally, Sit Investment Associates Inc. lifted its position in ING Groep by 3.9% during the 2nd quarter. Sit Investment Associates Inc. now owns 276,575 shares of the financial services provider’s stock valued at $3,961,000 after purchasing an additional 10,425 shares during the period. Institutional investors and hedge funds own 3.52% of the company’s stock.

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ING Groep Company Profile (NYSE:ING)

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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