Massachusetts Financial Services Co. MA Grows Stock Holdings in ING Group, N.V. (NYSE:ING)

Massachusetts Financial Services Co. MA boosted its holdings in shares of ING Group, N.V. (NYSE:ING - Free Report) by 60.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 529,731 shares of the financial services provider's stock after purchasing an additional 198,549 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in ING Group were worth $10,377,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Northern Trust Corp raised its stake in ING Group by 48.2% during the fourth quarter. Northern Trust Corp now owns 4,161,116 shares of the financial services provider's stock valued at $65,205,000 after purchasing an additional 1,353,054 shares in the last quarter. Royal Bank of Canada raised its stake in shares of ING Group by 0.8% in the fourth quarter. Royal Bank of Canada now owns 3,946,653 shares of the financial services provider's stock valued at $61,844,000 after acquiring an additional 31,963 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in shares of ING Group by 7.4% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 1,774,430 shares of the financial services provider's stock valued at $27,806,000 after acquiring an additional 121,620 shares during the period. Causeway Capital Management LLC raised its stake in shares of ING Group by 38.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,491,567 shares of the financial services provider's stock valued at $23,373,000 after acquiring an additional 416,762 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of ING Group by 4.7% in 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 acquiring an additional 55,257 shares during the period. Hedge funds and other institutional investors own 4.49% of the company's stock.

ING Group Price Performance

Shares of NYSE ING opened at $22.77 on Friday. The firm has a market cap of $79.65 billion, a PE ratio of 10.79, a PEG ratio of 1.83 and a beta of 1.11. The firm has a fifty day moving average of $21.55 and a 200 day moving average of $19.30. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.12 and a current ratio of 1.12. ING Group, N.V. has a one year low of $15.09 and a one year high of $23.25.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). ING Group had a net margin of 27.70% and a return on equity of 11.68%. The firm had revenue of $6.36 billion for the quarter, compared to analyst estimates of $5.74 billion. As a group, research analysts predict that ING Group, N.V. will post 2.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on ING. Cfra Research upgraded shares of ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Barclays upgraded shares of ING Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, July 15th. Finally, The Goldman Sachs Group raised shares of ING Group from a "neutral" rating to a "buy" rating in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

ING Group 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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