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

ING Groep (NYSE:ING) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports.

A number of other brokerages have also weighed in on ING. Deutsche Bank Aktiengesellschaft lowered shares of ING Groep from a “buy” rating to a “hold” rating in a report on Wednesday, October 9th. Barclays lowered shares of ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Citigroup raised shares of ING Groep to a “strong-buy” rating in a report on Thursday, October 17th.

ING Groep Price Performance

NYSE ING opened at $15.27 on Tuesday. The firm’s fifty day simple moving average is $16.91 and its two-hundred day simple moving average is $17.39. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. ING Groep has a 12-month low of $12.77 and a 12-month high of $18.72. The firm has a market capitalization of $53.40 billion, a P/E ratio of 6.85, a P/E/G ratio of 5.97 and a beta of 1.52.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in shares of ING Groep by 24.5% during the 1st quarter. Russell Investments Group Ltd. now owns 13,787 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 2,714 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in ING Groep by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 642,621 shares of the financial services provider’s stock valued at $10,597,000 after acquiring an additional 21,263 shares in the last quarter. Virtu Financial LLC grew its stake in ING Groep by 172.6% during the 1st quarter. Virtu Financial LLC now owns 77,870 shares of the financial services provider’s stock valued at $1,284,000 after acquiring an additional 49,307 shares in the last quarter. Atria Investments Inc grew its stake in ING Groep by 18.2% during the 1st quarter. Atria Investments Inc now owns 92,864 shares of the financial services provider’s stock valued at $1,531,000 after acquiring an additional 14,287 shares in the last quarter. Finally, Cetera Investment Advisers grew its stake in ING Groep by 81.4% during the 1st quarter. Cetera Investment Advisers now owns 104,291 shares of the financial services provider’s stock valued at $1,720,000 after acquiring an additional 46,785 shares in the last quarter. Institutional investors and hedge funds own 4.49% of the company’s stock.

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.