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

Morgan Stanley cut shares of ING Groep (NYSE:ING) from an overweight rating to an equal weight rating in a research note issued to investors on Tuesday morning, Marketbeat.com reports.

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

ING Groep Trading Up 1.1 %

NYSE:ING opened at $15.27 on Tuesday. ING Groep has a 1-year low of $12.77 and a 1-year high of $18.72. The business’s 50-day moving average price is $16.84 and its two-hundred day moving average price is $17.38. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The firm has a market capitalization of $53.42 billion, a price-to-earnings ratio of 6.85, a PEG ratio of 5.97 and a beta of 1.52.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ING. Fortitude Family Office LLC bought a new position in shares of ING Groep during the third quarter worth about $25,000. Summit Securities Group LLC bought a new position in ING Groep in the second quarter valued at approximately $31,000. Rothschild Investment LLC bought a new position in ING Groep in the second quarter valued at approximately $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in ING Groep in the second quarter valued at approximately $38,000. Finally, Mather Group LLC. grew its stake 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 purchasing an additional 782 shares in the last quarter. 4.49% of the stock is currently owned by institutional investors.

About ING Groep

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.