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

Massachusetts Financial Services Co. MA grew its position in shares of ING Groep (NYSE:ING) by 147.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 331,182 shares of the financial services provider’s stock after purchasing an additional 197,509 shares during the period. Massachusetts Financial Services Co. MA’s holdings in ING Groep were worth $5,190,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ING. Natixis Advisors LLC increased its stake in 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 worth $52,989,000 after buying an additional 74,771 shares during the period. Todd Asset Management LLC grew its stake in shares of ING Groep by 1.6% during the fourth quarter. Todd Asset Management LLC now owns 2,771,941 shares of the financial services provider’s stock valued at $43,436,000 after acquiring an additional 42,851 shares in the last quarter. American Century Companies Inc. increased its position in shares of 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 worth $19,442,000 after acquiring an additional 55,257 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of ING Groep by 1.6% in the fourth quarter. HighTower Advisors LLC now owns 963,306 shares of the financial services provider’s stock worth $15,095,000 after acquiring an additional 15,118 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in ING Groep in the fourth quarter valued at about $14,375,000. 4.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised ING Groep from a “neutral” rating to a “buy” rating in a research 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

ING Groep Price Performance

Shares of ING stock opened at $16.89 on Tuesday. The firm has a fifty day moving average of $18.34 and a two-hundred day moving average of $17.06. The firm has a market cap of $59.07 billion, a P/E ratio of 7.89, a P/E/G ratio of 6.42 and a beta of 1.07. ING Groep has a 1-year low of $15.09 and a 1-year high of $20.79. 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 (NYSE:ING) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. As a group, research analysts anticipate that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Increases Dividend

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

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.