Galibier Capital Management Ltd. Has $1.38 Million Position in ING Group, N.V. (NYSE:ING)

Galibier Capital Management Ltd. lowered its position in ING Group, N.V. (NYSE:ING - Free Report) by 33.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & 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 comprises 0.4% of Galibier Capital Management Ltd.'s holdings, making the stock its 21st largest position. Galibier Capital Management Ltd.'s holdings in ING Group were worth $1,375,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Northern Trust Corp lifted its holdings in shares of ING Group by 48.2% in the fourth quarter. Northern Trust Corp now owns 4,161,116 shares of the financial services provider's stock valued at $65,205,000 after purchasing an additional 1,353,054 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of ING Group during the 4th quarter worth about $14,375,000. Guardian Partners Inc. bought a new stake in ING Group in the 4th quarter valued at $11,730,000. Millennium Management LLC raised its stake in ING Group by 671.8% in the 4th quarter. Millennium Management LLC now owns 560,313 shares of the financial services provider's stock valued at $8,780,000 after acquiring an additional 487,716 shares during the period. Finally, Causeway Capital Management LLC lifted its position in ING Group by 38.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,491,567 shares of the financial services provider's stock worth $23,373,000 after acquiring an additional 416,762 shares during the last quarter. Institutional investors own 4.49% of the company's stock.

Analyst Upgrades and Downgrades

ING has been the subject of a number of recent research reports. The Goldman Sachs Group raised shares of ING Group from a "neutral" rating to a "buy" rating in a research report on Thursday, March 27th. Cfra Research raised ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, ING Group has a consensus rating of "Moderate Buy".

ING Group Stock Performance

Shares of ING Group stock opened at $23.23 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 2.86. ING Group, N.V. has a twelve month low of $15.09 and a twelve month high of $23.47. The stock has a market cap of $81.26 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 2.15 and a beta of 1.11. The company's fifty day moving average is $21.20 and its 200 day moving average is $18.93.

ING Group (NYSE:ING - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). The business had revenue of $6.36 billion during the quarter, compared to the consensus estimate of $5.74 billion. ING Group had a return on equity of 11.68% and a net margin of 27.70%. Sell-side analysts forecast that ING Group, N.V. will post 2.14 EPS for the current year.

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.

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