Massachusetts Financial Services Co. MA Acquires 197,509 Shares of ING Groep (NYSE:ING)

Massachusetts Financial Services Co. MA increased its stake in shares of ING Groep (NYSE:ING - Free Report) by 147.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 331,182 shares of the financial services provider's stock after acquiring an additional 197,509 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in ING Groep were worth $5,190,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Natixis Advisors LLC boosted its holdings in shares of ING Groep by 2.3% during the 4th quarter. Natixis Advisors LLC now owns 3,381,569 shares of the financial services provider's stock valued at $52,989,000 after purchasing an additional 74,771 shares during the last quarter. Todd Asset Management LLC lifted its position in shares of ING Groep by 1.6% in the fourth quarter. Todd Asset Management LLC now owns 2,771,941 shares of the financial services provider's stock worth $43,436,000 after buying an additional 42,851 shares in the last quarter. American Century Companies Inc. boosted its stake in ING Groep by 4.7% during the fourth quarter. American Century Companies Inc. now owns 1,240,735 shares of the financial services provider's stock valued at $19,442,000 after buying an additional 55,257 shares during the last quarter. HighTower Advisors LLC boosted its stake in ING Groep by 1.6% during the fourth quarter. HighTower Advisors LLC now owns 963,306 shares of the financial services provider's stock valued at $15,095,000 after buying an additional 15,118 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in ING Groep during the 4th quarter valued at approximately $14,375,000. 4.49% of the stock is owned by hedge funds and other institutional investors.

ING Groep Price Performance

Shares of ING Groep stock traded up $0.82 during trading hours on Friday, reaching $18.24. The company's stock had a trading volume of 3,787,006 shares, compared to its average volume of 2,354,403. 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 has a one year low of $15.09 and a one year high of $20.79. The firm has a 50 day moving average price of $18.44 and a 200-day moving average price of $17.04. The stock has a market cap of $63.79 billion, a P/E ratio of 8.52, a P/E/G ratio of 6.42 and a beta of 1.07.

ING Groep (NYSE:ING - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. On average, analysts predict that ING Groep will post 2.14 EPS for the current year.

ING Groep Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 25th will be given a dividend of $0.6526 per share. This is a boost from ING Groep's previous semi-annual dividend of $0.17. The ex-dividend date of this dividend is Friday, April 25th. This represents a yield of 5.1%. ING Groep's payout ratio is 60.75%.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised ING Groep from a "neutral" rating to a "buy" rating in a report on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy".

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.