Freedom Investment Management Inc. Makes New Investment in ING Groep (NYSE:ING)

Freedom Investment Management Inc. acquired a new stake in shares of ING Groep (NYSE:ING) during the third quarter, Holdings Channel reports. The fund acquired 32,365 shares of the financial services provider’s stock, valued at approximately $588,000.

Other large investors have also recently modified their holdings of the company. Creative Planning boosted its holdings in ING Groep by 18.4% during the 2nd quarter. Creative Planning now owns 209,405 shares of the financial services provider’s stock valued at $3,589,000 after acquiring an additional 32,534 shares during the period. Crossmark Global Holdings Inc. boosted its stake in shares of ING Groep by 30.8% during the third quarter. Crossmark Global Holdings Inc. now owns 266,994 shares of the financial services provider’s stock valued at $4,849,000 after purchasing an additional 62,801 shares during the period. Natixis Advisors LLC boosted its stake in shares of ING Groep by 71.3% during the third quarter. Natixis Advisors LLC now owns 3,306,798 shares of the financial services provider’s stock valued at $60,051,000 after purchasing an additional 1,376,713 shares during the period. Boston Partners bought a new position in shares of ING Groep in the first quarter worth approximately $2,125,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of ING Groep in the third quarter worth $2,428,000. Hedge funds and other institutional investors own 4.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ING. Barclays lowered shares of ING Groep from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut ING Groep from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Morgan Stanley lowered ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday. Finally, Citigroup upgraded ING Groep to a “strong-buy” rating in a report on Thursday, October 17th.

ING Groep Stock Up 1.1 %

Shares of NYSE ING opened at $15.45 on Friday. The firm has a fifty day simple moving average of $16.78 and a two-hundred day simple moving average of $17.36. ING Groep has a 12 month low of $12.77 and a 12 month 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 firm has a market capitalization of $54.03 billion, a PE ratio of 6.93, a price-to-earnings-growth ratio of 5.94 and a beta of 1.52.

ING Groep Company 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.