ING Groep N.V. (NYSE: ING) Seen Running Too Hot, Let’s Look At This More Closely


Parametric Portfolio Associates L.. recently announced the acquisition of new stake in ING Groep N.V. (NYSE:ING). The institutional investor has increased its shareholding in the Financial company by 66.55% to 6.05 million shares with purchase of 2.42 million shares. This fresh investment now brings its stake to 0.16% valued currently at $41.71 million. In addition, Northern Trust Investments, Inc.(.. raised its holdings by 0.93 million to 4.81 million shares. And Causeway Capital Management LLC has lifted its position by 62.65% or 1.35 million shares – to 3.5 million shares.

With over 5.37 million ING Groep N.V. (ING) shares trading Tuesday and a closing price of $8.21 on the day, the dollar volume was approximately $44.07 million. The shares have shown a positive weekly performance of 2.88% and its price on 08/25/20 gained nearly 2.24%. Currently, there are 3.90B common shares owned by the public and among those 3.90B shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 24 analysts who have offered their price forecasts for ING have a consensus price objective of $9.72. The analysts have set the share’s price value over the next 12 months at a high of $11.96 and a low of $7.58 should the stock experience a downside. Incidentally, analysts’ outlook for the ING Groep N.V. stock is 1.50 for the next 12 months. The average price target is 20.29% above its last price level and an upside to the estimated low will see the stock lose -8.31% over that period. But an upside of 31.35% will see the stock hit the forecast high price target while mean target price for the stock is $9.90.

The top 3 mutual fund holders in ING Groep N.V. are Vanguard Windsor Funds – Vanguard, Orbis SICAV – Global Balanced Fun, and SPDR S&P Kensho New Economies Com. Vanguard Windsor Funds – Vanguard owns 10.24 million shares of the company’s stock, all valued at over $70.63 million. The company sold -0.31 million shares recently to bring their total holdings to about 0.26% of the shares outstanding. Orbis SICAV – Global Balanced Fun bought 1.16 million shares to see its total holdings expand to 1.85 million shares valued at over $12.76 million and representing 0.05% of the shares outstanding. SPDR S&P Kensho New Economies Com now owns shares totaling to 0.03% of the shares outstanding.

Shares of ING Groep N.V. (NYSE: ING) opened at $8.39, up $0.36 from a prior closing price of $8.03. However, the script later closed the day at $8.21, up 2.24%. The company’s stock has a 5-day price change of 2.88% and 24.58% over the past three months. ING shares are trading -31.87% year to date (YTD), with the 12-month market performance down to -12.85% lower. It has a 12-month low price of $4.52 and touched a high of $12.44 over the same period. Currently, 5.37 million shares have been traded, compared to an average intraday trading volume of 6.37 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.60%, 10.91%, and -3.49% respectively.

Institutional ownership of ING Groep N.V. (NYSE: ING) shares accounts for 3.80% of the company’s 3.90B shares outstanding. Mutual fund holders own 0.51%, while other institutional holders and individual stakeholders account for 3.23% and — respectively.

It has a market capitalization of $32.93B and a beta (3y monthly) value of 1.62. The stock’s trailing 12-month PE ratio is 8.45, while the earnings-per-share (ttm) stands at $0.97. The company has a PEG of 21.12 and the debt-to-equity ratio at 2.54. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.93% over the week and 2.13% over the month.

Analysts forecast that ING Groep N.V. (ING) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for Next Year. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. Earnings per share for the fiscal year are expected to increase by 1.50%, and 28.40% over the next financial year. EPS should shrink at an annualized rate of 0.40% over the next five years, compared to 19.90% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 24 brokerage firm advisors rate ING Groep N.V. (ING) as a “Strong Buy” at a consensus score of 1.50. Specifically, 15 Wall Street analysts polled rate the stock as a buy, while 8 of the 24 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the ING, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on October 23, 2019, with the firm’s price target at. Exane BNP Paribas coverage for the ING Groep N.V. (ING) stock in a research note released on August 02, 2019 offered a Neutral rating with a price target of. Barclays was of a view on June 14, 2019 that the stock is Underweight, while JP Morgan gave the stock Overweight rating on June 06, 2019, issuing a price target of. RBC Capital Mkts on their part issued Outperform rating on March 21, 2019.


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