Galibier Capital Management Ltd. Reduces Stake in ING Group, N.V. (NYSE:ING)

Galibier Capital Management Ltd. lessened its position in ING Group, N.V. (NYSE:ING - Free Report) by 33.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 70,208 shares of the financial services provider's stock after selling 36,000 shares during the period. ING Group makes up about 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 reporting period.

Other institutional investors have also recently bought and sold shares of the company. Legacy Advisors LLC bought a new stake in shares of ING Group during the first quarter worth about $28,000. Redwood Investments LLC acquired a new position in ING Group during the 4th quarter valued at about $41,000. Olde Wealth Management LLC bought a new stake in ING Group during the 1st quarter worth approximately $55,000. Hexagon Capital Partners LLC raised its stake 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 worth $100,000 after purchasing an additional 897 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its stake 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 worth $117,000 after purchasing an additional 2,707 shares during the last quarter. Institutional investors and hedge funds own 4.49% of the company's stock.

ING Group Stock Performance

Shares of NYSE ING traded down $0.22 during midday trading on Thursday, reaching $22.99. The company's stock had a trading volume of 2,601,463 shares, compared to its average volume of 2,337,945. The stock has a market capitalization of $80.41 billion, a P/E ratio of 10.89, a PEG ratio of 2.20 and a beta of 1.11. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50 day moving average price of $21.20 and a 200-day moving average price of $18.93. ING Group, N.V. has a 12-month low of $15.09 and a 12-month high of $23.47.

ING Group (NYSE:ING - Get Free Report) last posted 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). ING Group had a return on equity of 11.68% and a net margin of 27.70%. The business had revenue of $6.36 billion during the quarter, compared to analysts' expectations of $5.74 billion. As a group, equities analysts predict that ING Group, N.V. will post 2.14 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Cfra Research upgraded ING Group from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 6th. The Goldman Sachs Group raised shares of ING Group from a "neutral" rating to a "buy" rating in a report on Thursday, March 27th. 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 company's stock. According to MarketBeat.com, the company presently has an average 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.