Dorsey Wright & Associates Reduces Stock Position in Grupo Financiero Galicia S.A. $GGAL

Dorsey Wright & Associates lessened its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 38.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 53,980 shares of the bank’s stock after selling 34,073 shares during the period. Dorsey Wright & Associates’ holdings in Grupo Financiero Galicia were worth $2,720,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. increased its stake in shares of Grupo Financiero Galicia by 90.5% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank’s stock worth $45,047,000 after acquiring an additional 424,693 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of Grupo Financiero Galicia by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 11,824 shares of the bank’s stock valued at $596,000 after acquiring an additional 226 shares during the last quarter. Fiera Capital Corp purchased a new stake in shares of Grupo Financiero Galicia in the second quarter valued at about $5,555,000. Geode Capital Management LLC increased its position in Grupo Financiero Galicia by 0.7% during the second quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock worth $2,748,000 after purchasing an additional 362 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in Grupo Financiero Galicia by 240.5% during the second quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock worth $61,000 after purchasing an additional 849 shares during the period.

Grupo Financiero Galicia Stock Down 1.1%

Grupo Financiero Galicia stock opened at $50.89 on Wednesday. The company has a market capitalization of $7.50 billion, a PE ratio of 26.78 and a beta of 1.58. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16. Grupo Financiero Galicia S.A. has a fifty-two week low of $25.89 and a fifty-two week high of $74.00. The firm has a 50 day moving average price of $39.11 and a 200 day moving average price of $47.14.

Grupo Financiero Galicia Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were paid a $0.1349 dividend. The ex-dividend date of this dividend was Monday, November 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. Grupo Financiero Galicia’s payout ratio is presently 84.74%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GGAL. Wall Street Zen cut shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Grupo Financiero Galicia in a report on Thursday, November 13th. HSBC began coverage on Grupo Financiero Galicia in a research note on Wednesday, October 1st. They set a “buy” rating and a $60.00 target price for the company. Citigroup upgraded Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research report on Monday, November 3rd. Finally, Hsbc Global Res upgraded Grupo Financiero Galicia to a “strong-buy” rating in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Grupo Financiero Galicia presently has an average rating of “Moderate Buy” and a consensus target price of $74.25.

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.