why ING Groep N.V. [ING] is a Good Choice for Investors After New Price Target of $18.40

ING Groep N.V. [NYSE: ING] surged by $0.17 during the normal trading session on Tuesday and reaching a high of $12.595 during the day while it closed the day at $12.55. The company report on April 3, 2023 that ING Americas & Rock The Street, Wall Street Celebrate Financial Literacy Month with Reimagined Career Center for High School Girls & Alumnae Pursuing Math.

ING Makes Transformational Grant to RTSWS’s Career Platform Providing Access and Opportunity to Young Women Entering the Workforce.

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Rock The Street, Wall Street (RTSWS), bringing the world of math and finance to diverse high school girls, and ING Americas announce a reimagined Student & Alumnae Career Center.

ING Groep N.V. stock has also gained 3.46% of its value over the past 7 days. However, ING stock has declined by -4.85% in the 3 months of the year. Over the past six months meanwhile, it has gained 43.76% and gained 3.12% year-on date.

The market cap for ING stock reached $44.53 billion, with 3.73 billion shares outstanding and 3.73 billion shares in the current float. Compared to the average trading volume of 4.58M shares, ING reached a trading volume of 3641660 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about ING Groep N.V. [ING]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ING shares is $18.40 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ING stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for ING Groep N.V. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on March 23, 2022. The new note on the price target was released on December 02, 2021, representing the official price target for ING Groep N.V. stock.

The Average True Range (ATR) for ING Groep N.V. is set at 0.35, with the Price to Sales ratio for ING stock in the period of the last 12 months amounting to 1.43. The Price to Book ratio for the last quarter was 0.80, with the Price to Cash per share for the same quarter was set at 72.86.

ING stock trade performance evaluation

ING Groep N.V. [ING] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.46. With this latest performance, ING shares dropped by -3.31% in over the last four-week period, additionally plugging by 43.76% over the last 6 months – not to mention a rise of 26.18% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ING stock in for the last two-week period is set at 53.23, with the RSI for the last a single of trading hit 60.98, and the three-weeks RSI is set at 50.29 for ING Groep N.V. [ING]. The present Moving Average for the last 50 days of trading for this stock 13.06, while it was recorded at 12.35 for the last single week of trading, and 11.12 for the last 200 days.

Earnings per share (EPS) analysis for ING Groep N.V. [ING] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ING. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ING Groep N.V. go to 13.30%.

ING Groep N.V. [ING]: Insider Ownership positions

There are presently around $1,913 million, or 4.20% of ING stock, in the hands of institutional investors. The top three institutional holders of ING stocks are: FISHER ASSET MANAGEMENT, LLC with ownership of 53,466,436, which is approximately 3.713% of the company’s market cap and around 1.00% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 7,529,568 shares of the stock with an approximate value of $93.22 million in ING stocks shares; and MUFG SECURITIES EMEA PLC, currently with $92.85 million in ING stock with ownership of nearly New of the company’s market capitalization.

178 institutional holders increased their position in ING Groep N.V. [NYSE:ING] by around 17,304,572 shares. Additionally, 128 investors decreased positions by around 18,390,548 shares, while 45 investors held positions by with 118,841,623 shares. The mentioned changes placed institutional holdings at 154,536,743 shares, according to the latest SEC report filing. ING stock had 59 new institutional investments in for a total of 9,075,912 shares, while 31 institutional investors sold positions of 1,527,394 shares during the same period.


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