ING Group (NYSE:ING) Rating Lowered to "Hold (C+)" at Weiss Ratings

ING Group (NYSE:ING - Get Free Report) was downgraded by research analysts at Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a report released on Wednesday,Weiss Ratings reports.

Other research analysts also recently issued research reports about the stock. Cfra Research raised shares of ING Group from a "hold" rating to a "moderate buy" rating in a research note on Thursday, September 25th. Morgan Stanley raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Barclays raised shares of ING Group from an "equal weight" rating to an "overweight" rating in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, ING Group presently has a consensus rating of "Buy".

ING Group Trading Down 0.2%

Shares of ING opened at $24.42 on Wednesday. ING Group has a twelve month low of $15.09 and a twelve month high of $26.27. The company has a market cap of $76.86 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.76 and a beta of 1.07. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.83. The company's fifty day simple moving average is $24.72 and its 200-day simple moving average is $22.12.

ING Group (NYSE:ING - Get Free Report) last announced its earnings results on Thursday, July 31st. The financial services provider reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.05. ING Group had a net margin of 27.28% and a return on equity of 11.62%. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.40 billion. As a group, analysts expect that ING Group will post 2.14 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ING. Rhumbline Advisers increased its position in ING Group by 4.6% during the 1st quarter. Rhumbline Advisers now owns 77,975 shares of the financial services provider's stock valued at $1,528,000 after purchasing an additional 3,421 shares during the period. Wedmont Private Capital lifted its position in ING Group by 6.5% during the first quarter. Wedmont Private Capital now owns 11,415 shares of the financial services provider's stock valued at $208,000 after acquiring an additional 693 shares during the last quarter. Park Avenue Securities LLC lifted its position in ING Group by 63.5% during the first quarter. Park Avenue Securities LLC now owns 53,481 shares of the financial services provider's stock valued at $1,048,000 after acquiring an additional 20,778 shares during the last quarter. GAMMA Investing LLC grew its holdings in ING Group by 40.9% in the first quarter. GAMMA Investing LLC now owns 9,682 shares of the financial services provider's stock worth $190,000 after purchasing an additional 2,810 shares during the last quarter. Finally, Simon Quick Advisors LLC acquired a new position in shares of ING Group during the first quarter worth $198,000. Hedge funds and other institutional investors own 4.49% of the company's stock.

ING Group Company Profile

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.

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