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

Franklin Resources Inc. reduced its position in ING Groep (NYSE:ING - Free Report) by 31.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC bought a new stake in ING Groep in the 3rd quarter worth about $25,000. Rothschild Investment LLC purchased a new position in shares of ING Groep in the 2nd quarter worth $31,000. Mather Group LLC. grew its holdings in shares of 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 acquiring an additional 782 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of ING Groep in the second quarter worth $41,000. Finally, Hexagon Capital Partners LLC increased its position in ING Groep by 22.3% during the third quarter. Hexagon Capital Partners LLC now owns 3,879 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 706 shares during the last quarter. Hedge funds and other institutional investors own 4.49% of the company's stock.

ING Groep Price Performance

ING Groep stock traded up $0.06 during mid-day trading on Thursday, hitting $15.68. The stock had a trading volume of 1,379,546 shares, compared to its average volume of 2,306,771. 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's 50 day moving average is $15.95 and its 200 day moving average is $17.07. The firm has a market capitalization of $54.85 billion, a P/E ratio of 7.03, a P/E/G ratio of 6.07 and a beta of 1.48. ING Groep has a one year low of $12.77 and a one year high of $18.72.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ING shares. Citigroup raised shares of ING Groep to a "strong-buy" rating in a report on Thursday, October 17th. Barclays lowered ING Groep from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, October 22nd. Morgan Stanley cut ING Groep from an "overweight" rating to an "equal weight" rating in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft downgraded ING Groep from a "buy" rating to a "hold" rating in a research note on Wednesday, October 9th.

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.