Gallacher Capital Management LLC Has $391,000 Stock Holdings in ING Groep (NYSE:ING)

Gallacher Capital Management LLC lifted its position in ING Groep (NYSE:ING) by 4.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,960 shares of the financial services provider’s stock after acquiring an additional 1,072 shares during the period. Gallacher Capital Management LLC’s holdings in ING Groep were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Natixis Advisors LLC raised its position in shares of ING Groep by 2.3% in the 4th quarter. Natixis Advisors LLC now owns 3,381,569 shares of the financial services provider’s stock valued at $52,989,000 after acquiring an additional 74,771 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of ING Groep in the 4th quarter valued at approximately $2,054,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of ING Groep by 56.0% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 172,067 shares of the financial services provider’s stock valued at $2,696,000 after acquiring an additional 61,734 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of ING Groep by 280.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 13,979 shares of the financial services provider’s stock valued at $219,000 after acquiring an additional 10,302 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of ING Groep by 1.6% in the 4th quarter. HighTower Advisors LLC now owns 963,306 shares of the financial services provider’s stock valued at $15,095,000 after acquiring an additional 15,118 shares during the period. 4.49% of the stock is currently owned by institutional investors and hedge funds.

ING Groep Stock Performance

Shares of ING stock opened at $20.26 on Friday. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $70.86 billion, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 6.42 and a beta of 1.44. The company’s 50 day moving average price is $17.26 and its two-hundred day moving average price is $16.90. ING Groep has a 52 week low of $15.09 and a 52 week high of $20.79.

ING Groep (NYSE:ING) last announced its earnings results on Thursday, February 6th. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). ING Groep had a return on equity of 11.81% and a net margin of 28.30%. On average, analysts expect that ING Groep will post 2.14 earnings per share for the current fiscal year.

ING Groep Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, January 23rd. Stockholders of record on Monday, January 13th were issued a $0.1667 dividend. The ex-dividend date of this dividend was Monday, January 13th. This represents a dividend yield of 6.4%. ING Groep’s dividend payout ratio (DPR) is presently 29.91%.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley downgraded shares of ING Groep from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, November 26th.

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.