Galibier Capital Management Ltd. Sells 36,000 Shares of ING Group, N.V. (NYSE:ING)

Galibier Capital Management Ltd. cut its holdings in ING Group, N.V. (NYSE:ING - Free Report) by 33.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,208 shares of the financial services provider's stock after selling 36,000 shares during the period. ING Group makes up 0.4% of Galibier Capital Management Ltd.'s investment portfolio, making the stock its 21st biggest holding. Galibier Capital Management Ltd.'s holdings in ING Group were worth $1,375,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Legacy Advisors LLC bought a new position in ING Group in the 1st quarter worth $28,000. Redwood Investments LLC bought a new position in ING Group in the 4th quarter worth $41,000. Olde Wealth Management LLC bought a new stake in shares of ING Group in the first quarter valued at approximately $55,000. Hexagon Capital Partners LLC boosted its position in shares of ING Group by 21.4% in the first quarter. Hexagon Capital Partners LLC now owns 5,085 shares of the financial services provider's stock valued at $100,000 after acquiring an additional 897 shares during the period. Finally, TD Private Client Wealth LLC boosted its position in shares of ING Group by 83.3% in the first quarter. TD Private Client Wealth LLC now owns 5,957 shares of the financial services provider's stock valued at $117,000 after acquiring an additional 2,707 shares during the period. 4.49% of the stock is currently owned by institutional investors.

ING Group Price Performance

Shares of NYSE:ING traded down $0.23 during midday trading on Friday, reaching $22.77. 1,804,713 shares of the company's stock were exchanged, compared to its average volume of 2,335,973. The company's 50 day simple moving average is $21.28 and its two-hundred day simple moving average is $18.98. The firm has a market capitalization of $79.64 billion, a PE ratio of 10.79, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. ING Group, N.V. has a 12 month low of $15.09 and a 12 month high of $23.31. The company has a debt-to-equity ratio of 2.86, a quick ratio of 1.12 and a current ratio of 1.12.

ING Group (NYSE:ING - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). ING Group had a net margin of 27.70% and a return on equity of 11.68%. The company had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $5.74 billion. Equities 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 research firms have recently weighed in on ING. The Goldman Sachs Group raised ING Group from a "neutral" rating to a "buy" rating in a research report on Thursday, March 27th. Cfra Research upgraded ING Group from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, ING Group presently has a consensus rating of "Moderate Buy".

About ING Group

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.