Franklin Resources Inc. Sells 9,995 Shares of ING Group, N.V. $ING

Franklin Resources Inc. trimmed its holdings in ING Group, N.V. (NYSE:ING) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 318,259 shares of the financial services provider’s stock after selling 9,995 shares during the quarter. Franklin Resources Inc.’s holdings in ING Group were worth $6,960,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its position in ING Group by 2.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 7,894,501 shares of the financial services provider’s stock valued at $154,653,000 after acquiring an additional 185,506 shares during the last quarter. Northern Trust Corp boosted its stake in shares of ING Group by 4.4% during the first quarter. Northern Trust Corp now owns 4,342,916 shares of the financial services provider’s stock valued at $85,078,000 after purchasing an additional 181,800 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of ING Group by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 1,908,396 shares of the financial services provider’s stock worth $41,737,000 after purchasing an additional 48,023 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of ING Group in the first quarter worth about $36,062,000. Finally, Millennium Management LLC increased its stake in ING Group by 197.6% in the 1st quarter. Millennium Management LLC now owns 1,667,239 shares of the financial services provider’s stock worth $32,661,000 after buying an additional 1,106,926 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

ING Group Stock Up 0.1%

Shares of ING stock opened at $25.94 on Monday. The stock’s fifty day moving average price is $25.11 and its 200 day moving average price is $23.67. ING Group, N.V. has a 1-year low of $15.09 and a 1-year high of $26.59. The company has a market cap of $81.64 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 1.85 and a beta of 0.81. The company has a debt-to-equity ratio of 2.99, a current ratio of 1.11 and a quick ratio of 1.11.

ING Group (NYSE:ING) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.06. ING Group had a return on equity of 11.57% and a net margin of 26.94%.The business had revenue of $6.88 billion during the quarter, compared to the consensus estimate of $5.35 billion. On average, research analysts expect that ING Group, N.V. will post 2.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Cfra Research raised shares of ING Group from a “hold” rating to a “moderate buy” rating in a research report on Thursday, September 25th. Morgan Stanley upgraded ING Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, September 2nd. Citigroup upgraded ING Group to a “strong-buy” rating in a report on Friday, November 21st. Keefe, Bruyette & Woods cut ING Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of ING Group in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat.com, ING Group currently has an average rating of “Buy”.

ING Group 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.