Franklin Resources Inc. Sells 71,575 Shares of ING Groep (NYSE:ING)

Franklin Resources Inc. trimmed its position in ING Groep (NYSE:ING) by 31.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 154,454 shares of the financial services provider’s stock after selling 71,575 shares during the period. Franklin Resources Inc.’s holdings in ING Groep were worth $2,683,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of ING Groep in the 3rd quarter worth about $257,000. Sanctuary Advisors LLC grew its holdings in ING Groep by 12.0% in the third quarter. Sanctuary Advisors LLC now owns 103,478 shares of the financial services provider’s stock worth $1,879,000 after purchasing an additional 11,074 shares during the period. Virtu Financial LLC grew its holdings in ING Groep by 85.1% in the third quarter. Virtu Financial LLC now owns 35,468 shares of the financial services provider’s stock worth $644,000 after purchasing an additional 16,310 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of ING Groep by 52.0% during the third quarter. Rehmann Capital Advisory Group now owns 15,471 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 5,295 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of ING Groep by 20.5% during the third quarter. Coldstream Capital Management Inc. now owns 19,641 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 3,340 shares during the last quarter. Institutional investors own 4.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ING. Barclays downgraded ING Groep from an “overweight” rating to an “equal weight” rating in a research note 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. Citigroup raised ING Groep to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th.

ING Groep Stock Performance

ING stock opened at $15.62 on Thursday. The stock’s 50 day simple moving average is $16.01 and its 200 day simple moving average is $17.09. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.89. ING Groep has a 12-month low of $12.77 and a 12-month high of $18.72. The stock has a market capitalization of $54.64 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 6.07 and a beta of 1.48.

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.