Morgan Stanley Downgrades ING Groep (NYSE:ING) to Equal Weight

ING Groep (NYSE:INGGet Free Report) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports.

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

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ING Groep Price Performance

NYSE:ING opened at $15.34 on Tuesday. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $53.66 billion, a price-to-earnings ratio of 6.88, a price-to-earnings-growth ratio of 5.95 and a beta of 1.52. The company has a 50 day moving average price of $17.03 and a 200-day moving average price of $17.42. ING Groep has a 1-year low of $12.77 and a 1-year high of $18.72.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ING. Virtu Financial LLC raised its holdings in ING Groep by 172.6% in the 1st quarter. Virtu Financial LLC now owns 77,870 shares of the financial services provider’s stock valued at $1,284,000 after buying an additional 49,307 shares during the period. Creative Planning raised its holdings in ING Groep by 18.4% in the 2nd quarter. Creative Planning now owns 209,405 shares of the financial services provider’s stock valued at $3,589,000 after buying an additional 32,534 shares during the period. Crossmark Global Holdings Inc. raised its holdings in ING Groep by 30.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 266,994 shares of the financial services provider’s stock valued at $4,849,000 after buying an additional 62,801 shares during the period. Natixis Advisors LLC raised its holdings in ING Groep by 71.3% in the 3rd quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock valued at $60,051,000 after buying an additional 1,376,713 shares during the period. Finally, Boston Partners purchased a new stake in ING Groep in the 1st quarter valued at about $2,125,000. Institutional investors and hedge funds own 4.49% of the company’s stock.

ING Groep Company Profile

(Get Free Report)

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.

Further Reading

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