Franklin Resources Inc. Makes New $5.80 Million Investment in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Franklin Resources Inc. bought a new stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 93,137 shares of the bank’s stock, valued at approximately $5,804,000. Franklin Resources Inc. owned about 0.06% of Grupo Financiero Galicia as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Grupo Financiero Galicia in the fourth quarter valued at approximately $27,000. CIBC Private Wealth Group LLC purchased a new position in Grupo Financiero Galicia in the 4th quarter valued at $34,000. Mirae Asset Global Investments Co. Ltd. grew its position in Grupo Financiero Galicia by 41.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,134 shares of the bank’s stock valued at $136,000 after buying an additional 624 shares during the last quarter. Blue Trust Inc. grew its position in Grupo Financiero Galicia by 78.8% in the 4th quarter. Blue Trust Inc. now owns 2,536 shares of the bank’s stock valued at $158,000 after buying an additional 1,118 shares during the last quarter. Finally, Empowered Funds LLC purchased a new stake in shares of Grupo Financiero Galicia during the 4th quarter worth $167,000.

Grupo Financiero Galicia Stock Performance

NASDAQ:GGAL opened at $52.17 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.10. Grupo Financiero Galicia S.A. has a fifty-two week low of $23.53 and a fifty-two week high of $74.00. The stock has a market cap of $7.69 billion, a PE ratio of 7.68 and a beta of 1.60. The firm’s fifty day simple moving average is $57.11 and its 200-day simple moving average is $57.66.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price target on the stock in a research note on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.00.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.