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Investor Confidence Shakens After ING Groep N.V. (NYSE: ING) Share Prices Gain $0.17

ING Groep N.V. (NYSE:ING) has a beta value of 1.59 and has seen 4.12 million shares traded in the last trading session. The company, currently valued at $50.68B, closed the last trade at $13.86 per share which meant it gained $0.17 on the day or 1.24% during that session. The ING stock price is -12.27% off its 52-week high price of $15.56 and 41.27% above the 52-week low of $8.14. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.42 million shares traded. The 3-month trading volume is 4.28 million shares.

The consensus among analysts is that ING Groep N.V. (ING) is an Overweight stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 7 out of 23 have rated it as a Hold, with 15 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.35.

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ING Groep N.V. (NYSE:ING) trade information

Sporting 1.24% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 01/24/23 when the ING stock price touched $13.86 or saw a rise of 0.5%. Year-to-date, ING Groep N.V. shares have moved 13.89%, while the 5-day performance has seen it change 3.20%. Over the past 30 days, the shares of ING Groep N.V. (NYSE:ING) have changed 12.68%. Short interest in the company has seen 1.28 million shares shorted with days to cover at 0.26.

Wall Street analysts have a consensus price target for the stock at $15.39, which means that the shares’ value could jump 9.94% from current levels. The projected low price target is $11.97 while the price target rests at a high of $18.41. In that case, then, we find that the current price level is -32.83% off the targeted high while a plunge would see the stock lose 13.64% from current levels.

ING Groep N.V. (ING) estimates and forecasts

Figures show that ING Groep N.V. shares have underperformed across the wider relevant industry. The company’s shares have gained 45.28% over the past 6 months, with this year growth rate of -31.03%, compared to 7.80% for the industry. Revenue growth from the last financial year stood is estimated to be -18.50%.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 2.50% over the past 5 years. Earnings growth for 2023 is a modest 92.70% while over the next 5 years, the company’s earnings are expected to increase by 13.30%.

ING Dividends

ING Groep N.V. is expected to release its next earnings report in February this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.94 at a share yield of 6.76%. The company’s dividend yield has gone up over the past 12 months.

ING Groep N.V. (NYSE:ING)’s Major holders

Insiders own 0.00% of the company shares, while shares held by institutions stand at 4.50% with a share float percentage of 4.50%. Investors are also buoyed by the number of investors in a company, with ING Groep N.V. having a total of 348 institutions that hold shares in the company. The top two institutional holders are Fisher Asset Management, LLC with over 56.08 million shares worth more than $556.3 million. As of Jun 29, 2022, Fisher Asset Management, LLC held 1.49% of shares outstanding.

The other major institutional holder is MUFG Securities EMEA PLC, with the holding of over 11.68 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $115.87 million and represent 0.31% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Wasatch Global Value Fund and DFA International Core Equity Portfolio. As of Jun 29, 2022, the former fund manager holds about 0.01% shares in the company for having 0.39 million shares of worth $3.87 million while later fund manager owns 0.45 million shares of worth $4.34 million as of Jul 30, 2022, which makes it owner of about 0.01% of company’s outstanding stock.

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