ING Groep (NYSE:ING) Downgraded by Morgan Stanley to Equal Weight

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

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

ING Groep Stock Down 1.6 %

NYSE:ING opened at $15.10 on Tuesday. 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 twelve month low of $12.77 and a twelve month high of $18.72. The company has a market cap of $52.82 billion, a PE ratio of 6.77, a P/E/G ratio of 5.95 and a beta of 1.52. The company’s 50 day moving average is $16.97 and its two-hundred day moving average is $17.41.

Institutional Investors Weigh In On ING Groep

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of ING Groep in the 3rd quarter valued at about $257,000. Sanctuary Advisors LLC raised its position in ING Groep by 12.0% during the third quarter. Sanctuary Advisors LLC now owns 103,478 shares of the financial services provider’s stock valued at $1,879,000 after acquiring an additional 11,074 shares in the last quarter. Virtu Financial LLC lifted its holdings in ING Groep by 85.1% in the third quarter. Virtu Financial LLC now owns 35,468 shares of the financial services provider’s stock valued at $644,000 after acquiring an additional 16,310 shares during the period. Rehmann Capital Advisory Group boosted its position in ING Groep by 52.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 15,471 shares of the financial services provider’s stock worth $281,000 after purchasing an additional 5,295 shares in the last quarter. Finally, Coldstream Capital Management Inc. grew its stake in shares of ING Groep by 20.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 19,641 shares of the financial services provider’s stock worth $357,000 after purchasing an additional 3,340 shares during the period. 4.49% of the stock is owned by institutional investors and hedge funds.

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.