Gallacher Capital Management LLC Grows Stock Position in ING Groep (NYSE:ING)

Gallacher Capital Management LLC increased its holdings in shares of ING Groep (NYSE:ING) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,892 shares of the financial services provider’s stock after buying an additional 604 shares during the quarter. Gallacher Capital Management LLC’s holdings in ING Groep were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ING. Financial Management Professionals Inc. grew its position in shares of ING Groep by 67.8% in the 1st quarter. Financial Management Professionals Inc. now owns 1,639 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 662 shares in the last quarter. Richardson Financial Services Inc. acquired a new position in shares of ING Groep in the 4th quarter worth approximately $28,000. GAMMA Investing LLC acquired a new position in shares of ING Groep in the 4th quarter worth approximately $54,000. NBC Securities Inc. lifted its holdings in shares of ING Groep by 24.5% in the 4th quarter. NBC Securities Inc. now owns 4,093 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 805 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of ING Groep by 128.5% in the 4th quarter. Global Retirement Partners LLC now owns 4,994 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 2,808 shares during the last quarter. 4.49% of the stock is currently owned by hedge funds and other institutional investors.

ING Groep Price Performance

Shares of NYSE ING traded up $0.17 during mid-day trading on Friday, reaching $18.29. The company had a trading volume of 511,721 shares, compared to its average volume of 2,665,182. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. The stock has a market cap of $63.98 billion, a PE ratio of 8.02 and a beta of 1.54. The company has a 50-day moving average price of $17.47 and a two-hundred day moving average price of $15.77. ING Groep has a 1-year low of $12.44 and a 1-year high of $18.32.

ING Groep (NYSE:ING) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.52 earnings per share for the quarter. ING Groep had a return on equity of 13.22% and a net margin of 32.20%. The business had revenue of $6.06 billion for the quarter. On average, equities analysts anticipate that ING Groep will post 2.02 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Barclays raised ING Groep from an “equal weight” rating to an “overweight” rating in a research note on Friday, June 7th.

ING Groep 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.