Handelsbanken Fonder AB Boosts Position in Grupo Financiero Galicia S.A. $GGAL

Handelsbanken Fonder AB boosted its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 68.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 113,479 shares of the bank’s stock after buying an additional 46,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Grupo Financiero Galicia were worth $6,121,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GGAL. TT International Asset Management LTD purchased a new position in Grupo Financiero Galicia during the 4th quarter worth approximately $47,035,000. Aquamarine Financial Cayman Ltd raised its position in Grupo Financiero Galicia by 57.9% during the 4th quarter. Aquamarine Financial Cayman Ltd now owns 2,092,309 shares of the bank’s stock worth $113,133,000 after buying an additional 767,309 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Grupo Financiero Galicia by 52.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock worth $97,629,000 after buying an additional 664,533 shares during the last quarter. UBS Group AG raised its position in Grupo Financiero Galicia by 146.7% during the 4th quarter. UBS Group AG now owns 782,969 shares of the bank’s stock worth $42,233,000 after buying an additional 465,639 shares during the last quarter. Finally, Carrhae Capital LLP purchased a new position in Grupo Financiero Galicia during the 3rd quarter worth approximately $8,701,000.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Friday, March 27th. JPMorgan Chase & Co. cut their target price on shares of Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Wall Street Zen lowered shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Zacks Research raised shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $64.00.

Grupo Financiero Galicia Price Performance

NASDAQ:GGAL opened at $43.55 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.13 and a quick ratio of 1.16. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 0.31 and a beta of 1.27. The company has a 50 day moving average price of $44.35 and a 200-day moving average price of $48.84. Grupo Financiero Galicia S.A. has a 1-year low of $25.89 and a 1-year high of $63.75.

Grupo Financiero Galicia (NASDAQ:GGAL) last posted its earnings results on Wednesday, May 13th. The bank reported $0.30 earnings per share for the quarter. The firm had revenue of $1.53 billion during the quarter. Grupo Financiero Galicia had a net margin of 7.13% and a return on equity of 18.96%. Equities research analysts forecast that Grupo Financiero Galicia S.A. will post 3.69 EPS for the current year.

Grupo Financiero Galicia Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were issued a $0.6229 dividend. This represents a c) annualized dividend and a yield of 17.2%. The ex-dividend date of this dividend was Monday, May 4th. Grupo Financiero Galicia’s payout ratio is presently 347.47%.

About Grupo Financiero Galicia

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country’s largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.