133,673 Shares in ING Groep (NYSE:ING) Acquired by Massachusetts Financial Services Co. MA

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

Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in ING Groep in the third quarter worth approximately $25,000. Summit Securities Group LLC acquired a new stake in ING Groep in the second quarter worth approximately $31,000. Rothschild Investment LLC acquired a new stake in ING Groep in the second quarter worth approximately $31,000. Mather Group LLC. lifted its position in ING Groep by 57.3% in the third quarter. Mather Group LLC. now owns 2,147 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 782 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in ING Groep in the second quarter worth approximately $38,000. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Groep Trading Down 1.6 %

NYSE ING opened at $15.10 on Wednesday. ING Groep has a 1-year low of $12.77 and a 1-year high of $18.72. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. The company has a market capitalization of $52.82 billion, a PE ratio of 6.77, a price-to-earnings-growth ratio of 5.95 and a beta of 1.52. The firm’s fifty day simple moving average is $16.97 and its 200-day simple moving average is $17.41.

Wall Street Analysts Forecast Growth

ING has been the subject of a number of research analyst reports. Morgan Stanley downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday. Barclays downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft downgraded ING Groep from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, Citigroup upgraded ING Groep to a “strong-buy” rating in a research report on Thursday, October 17th.

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.