ING Group (NYSE:ING) Upgraded by Morgan Stanley to Overweight Rating

ING Group (NYSE:ING) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Wednesday, Briefing.com reports.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings lowered shares of ING Group from a “buy (a-)” rating to a “buy (b-)” rating in a research note on Thursday, August 13th. Zacks Research raised shares of ING Group from a “strong sell” rating to a “hold” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

ING Group Price Performance

ING stock opened at $35.25 on Wednesday. ING Group has a one year low of $23.63 and a one year high of $36.24. The firm has a 50-day moving average of $33.75 and a two-hundred day moving average of $30.43. The firm has a market capitalization of $100.82 billion, a PE ratio of 13.15, a P/E/G ratio of 0.92 and a beta of 0.84. The company has a current ratio of 1.10, a quick ratio of 1.11 and a debt-to-equity ratio of 2.99.

ING Group (NYSE:ING) last issued its earnings results on Thursday, July 30th. The financial services provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04. ING Group had a return on equity of 12.59% and a net margin of 28.15%.The company had revenue of $4.76 billion for the quarter, compared to the consensus estimate of $6.99 billion. On average, analysts forecast that ING Group will post 2.82 earnings per share for the current year.

Institutional Trading of ING Group

A number of institutional investors and hedge funds have recently modified their holdings of ING. Rehmann Capital Advisory Group lifted its stake in shares of ING Group by 1.5% in the second quarter. Rehmann Capital Advisory Group now owns 22,251 shares of the financial services provider’s stock worth $698,000 after buying an additional 336 shares during the last quarter. Greenspring Advisors LLC grew its stake in ING Group by 3.1% in the 2nd quarter. Greenspring Advisors LLC now owns 11,216 shares of the financial services provider’s stock valued at $352,000 after buying an additional 339 shares during the last quarter. Contravisory Investment Management Inc. grew its stake in ING Group by 3.5% in the 2nd quarter. Contravisory Investment Management Inc. now owns 10,309 shares of the financial services provider’s stock valued at $323,000 after buying an additional 349 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in ING Group by 4.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 8,734 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 361 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in ING Group by 0.4% in the 4th quarter. Quadrant Capital Group LLC now owns 106,170 shares of the financial services provider’s stock worth $2,973,000 after acquiring an additional 374 shares during the period. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Group Company Profile

ING Group N.V. is a Dutch multinational financial services company headquartered in Amsterdam. Formed through the consolidation of Dutch financial businesses, ING operates as a banking and financial services group that serves retail, small and medium-sized enterprises, large corporates and institutional clients. The company is organized under a two-tier governance model common in the Netherlands, with an Executive Board responsible for day-to-day management and a Supervisory Board providing oversight.

ING’s principal activities include retail and direct banking, commercial and wholesale banking, corporate lending, transaction services and cash management, and a range of investment and savings products.