ING Groep (NYSE:ING) Rating Lowered to Equal Weight at Morgan Stanley

Morgan Stanley downgraded shares of ING Groep (NYSE:ING) from an overweight rating to an equal weight rating in a report released on Tuesday morning, Marketbeat Ratings reports.

Several other research analysts also recently commented on ING. Barclays downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Citigroup upgraded shares of ING Groep to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut ING Groep from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th.

ING Groep Trading Up 1.1 %

NYSE:ING opened at $15.45 on Tuesday. The firm has a market cap of $54.03 billion, a price-to-earnings ratio of 6.93, a price-to-earnings-growth ratio of 5.94 and a beta of 1.52. The firm has a 50-day moving average price of $16.78 and a two-hundred day moving average price of $17.36. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. ING Groep has a 52 week low of $12.77 and a 52 week high of $18.72.

Hedge Funds Weigh In On ING Groep

Hedge funds have recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of ING Groep in the third quarter valued at about $25,000. Summit Securities Group LLC acquired a new stake in shares of ING Groep during the second quarter worth about $31,000. Rothschild Investment LLC acquired a new position in ING Groep in the 2nd quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of ING Groep in the 2nd quarter valued at approximately $38,000. Finally, Mather Group LLC. increased its holdings in ING Groep by 57.3% in the third quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock valued at $39,000 after buying an additional 782 shares in the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Groep Company Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.