Massachusetts Financial Services Co. MA Makes New $2.43 Million Investment in ING Groep (NYSE:ING)

Massachusetts Financial Services Co. MA bought a new position in shares of ING Groep (NYSE:ING) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 133,673 shares of the financial services provider’s stock, valued at approximately $2,428,000.

Several other hedge funds have also recently bought and sold shares of the business. Natixis Advisors LLC increased its position in ING Groep by 71.3% during the third quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock worth $60,051,000 after buying an additional 1,376,713 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its holdings in ING Groep by 17.9% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 1,695,710 shares of the financial services provider’s stock valued at $27,962,000 after acquiring an additional 257,440 shares during the period. American Century Companies Inc. boosted its holdings in ING Groep by 5.7% during the second quarter. American Century Companies Inc. now owns 1,124,581 shares of the financial services provider’s stock valued at $19,275,000 after acquiring an additional 60,908 shares during the period. Raymond James & Associates boosted its holdings in ING Groep by 49.7% during the third quarter. Raymond James & Associates now owns 794,658 shares of the financial services provider’s stock valued at $14,431,000 after acquiring an additional 263,904 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in ING Groep by 3.4% during the first 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 during the period. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Groep Stock Performance

Shares of ING Groep stock opened at $15.10 on Wednesday. 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 $52.82 billion, a P/E ratio of 6.77, a P/E/G ratio of 5.95 and a beta of 1.52. The firm has a 50 day simple moving average of $16.97 and a 200 day simple moving average of $17.41. ING Groep has a fifty-two week low of $12.77 and a fifty-two week high of $18.72.

Wall Street Analysts Forecast Growth

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

ING Groep 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.