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

Gallacher Capital Management LLC trimmed its position in ING Groep (NYSE:ING) by 17.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,288 shares of the financial services provider’s stock after selling 4,459 shares during the period. Gallacher Capital Management LLC’s holdings in ING Groep were worth $320,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ING. Clear Street Markets LLC boosted its position in ING Groep by 570.3% during the third quarter. Clear Street Markets LLC now owns 2,011 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,711 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of ING Groep during the third quarter worth $43,000. GAMMA Investing LLC purchased a new stake in shares of ING Groep in the fourth quarter valued at $54,000. Global Retirement Partners LLC grew its position in shares of ING Groep by 128.5% in the fourth quarter. Global Retirement Partners LLC now owns 4,994 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 2,808 shares during the period. Finally, Paradigm Asset Management Co. LLC increased its stake in ING Groep by 122.6% in the third quarter. Paradigm Asset Management Co. LLC now owns 6,900 shares of the financial services provider’s stock valued at $91,000 after purchasing an additional 3,800 shares during the last quarter. 4.49% of the stock is owned by institutional investors and hedge funds.

ING Groep Trading Up 0.6 %

NYSE:ING traded up $0.10 during mid-day trading on Monday, reaching $17.28. The company’s stock had a trading volume of 2,365,741 shares, compared to its average volume of 3,111,565. ING Groep has a twelve month low of $12.02 and a twelve month high of $17.36. The company’s fifty day simple moving average is $15.72 and its two-hundred day simple moving average is $14.51. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $60.45 billion, a P/E ratio of 7.60 and a beta of 1.56.

ING Groep (NYSE:ING) last released its earnings results on Thursday, February 1st. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $6.15 billion. ING Groep had a net margin of 32.20% and a return on equity of 13.15%. On average, equities analysts predict that ING Groep will post 1.91 EPS for the current year.

ING Groep Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Friday, May 10th. Stockholders of record on Thursday, April 25th will be issued a dividend of $0.697 per share. This represents a dividend yield of 6.8%. This is an increase from ING Groep’s previous Semi-Annual dividend of $0.43. The ex-dividend date is Wednesday, April 24th. ING Groep’s dividend payout ratio is presently 61.50%.

ING Groep 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.