Lancaster Investment Management Sells 39,102 Shares of Grupo Financiero Galicia S.A. $GGAL

Lancaster Investment Management lessened its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 18.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 171,002 shares of the bank’s stock after selling 39,102 shares during the quarter. Grupo Financiero Galicia comprises about 3.9% of Lancaster Investment Management’s holdings, making the stock its 7th largest holding. Lancaster Investment Management’s holdings in Grupo Financiero Galicia were worth $6,368,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in GGAL. Robeco Institutional Asset Management B.V. acquired a new position in Grupo Financiero Galicia during the third quarter worth $47,235,000. ABS Direct Equity Fund LLC purchased a new stake in Grupo Financiero Galicia in the 2nd quarter valued at $3,394,000. Carrhae Capital LLP purchased a new stake in Grupo Financiero Galicia in the 2nd quarter valued at $68,052,000. RWC Asset Advisors US LLC increased its stake in shares of Grupo Financiero Galicia by 52.2% in the 2nd quarter. RWC Asset Advisors US LLC now owns 517,540 shares of the bank’s stock worth $25,893,000 after acquiring an additional 177,574 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new stake in shares of Grupo Financiero Galicia in the 2nd quarter worth $490,000.

Grupo Financiero Galicia Price Performance

GGAL stock opened at $35.46 on Wednesday. Grupo Financiero Galicia S.A. has a 52-week low of $31.14 and a 52-week high of $62.51. The business has a fifty day moving average of $40.76 and a two-hundred day moving average of $45.58.

Grupo Financiero Galicia (NASDAQ:GGAL) last announced its quarterly earnings results on Tuesday, August 25th. The bank reported $1.14 EPS for the quarter, beating the consensus estimate of $0.98 by $0.16. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.70 billion. Sell-side analysts forecast that Grupo Financiero Galicia S.A. will post 3.88 EPS for the current fiscal year.

Grupo Financiero Galicia Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Monday, October 5th. Shareholders of record on Monday, September 28th were given a $0.0479 dividend. The ex-dividend date of this dividend was Monday, September 28th. This is a decrease from Grupo Financiero Galicia’s previous monthly dividend of $0.0531. This represents a $0.57 dividend on an annualized basis and a yield of 1.6%. Grupo Financiero Galicia’s dividend payout ratio is currently 23.27%.

Analyst Ratings Changes

Several research analysts have recently commented on GGAL shares. UBS Group reduced their price target on Grupo Financiero Galicia from $60.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, October 13th. Wall Street Zen raised shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. JPMorgan Chase & Co. upped their price objective on shares of Grupo Financiero Galicia from $72.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Weiss Ratings cut shares of Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Finally, Itau BBA Securities cut shares of Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 3rd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Grupo Financiero Galicia currently has an average rating of “Hold” and an average price target of $65.00.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA is an Argentine financial services holding company whose principal business is conducted through Banco de Galicia y Buenos Aires SAU., commonly known as Galicia. The group serves individuals, businesses, agricultural customers and public-sector entities across Argentina.

Through its banking operations, Galicia offers deposit accounts, consumer and commercial loans, credit and debit cards, payment services, cash management, foreign trade financing, investment products and digital banking services.