Massachusetts Financial Services Co. MA Takes Position in ING Groep (NYSE:ING)

Massachusetts Financial Services Co. MA purchased a new stake in ING Groep (NYSE:ING - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm purchased 133,673 shares of the financial services provider's stock, valued at approximately $2,428,000.

A number of other hedge funds have also modified their holdings of the company. King Luther Capital Management Corp raised its position in shares of ING Groep by 9.1% in the 3rd quarter. King Luther Capital Management Corp now owns 19,836 shares of the financial services provider's stock valued at $360,000 after acquiring an additional 1,648 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of ING Groep in the 3rd quarter valued at approximately $2,004,000. PNC Financial Services Group Inc. increased its stake in ING Groep by 3.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 84,236 shares of the financial services provider's stock worth $1,530,000 after purchasing an additional 2,980 shares in the last quarter. Caprock Group LLC increased its stake in ING Groep by 4.9% during the 3rd quarter. Caprock Group LLC now owns 97,105 shares of the financial services provider's stock worth $1,763,000 after purchasing an additional 4,519 shares in the last quarter. Finally, Thrivent Financial for Lutherans bought a new stake in ING Groep during the 3rd quarter worth approximately $215,000. 4.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup raised ING Groep to a "strong-buy" rating in a research note on Thursday, October 17th. Barclays cut ING Groep from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, October 22nd. Morgan Stanley cut ING Groep from an "overweight" rating to an "equal weight" rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut ING Groep from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th.

ING Groep Stock Up 1.1 %

Shares of ING traded up $0.17 during mid-day trading on Wednesday, hitting $15.27. 1,789,449 shares of the company's stock were exchanged, compared to its average volume of 2,325,780. The company has a market cap of $53.40 billion, a PE ratio of 6.85, a P/E/G ratio of 5.97 and a beta of 1.52. ING Groep has a 52 week low of $12.77 and a 52 week high of $18.72. The company has a 50-day simple moving average of $16.91 and a 200 day simple moving average of $17.39. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.13 and a quick ratio of 1.13.

ING Groep 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.