Triasima Portfolio Management inc. Cuts Position in Grupo Financiero Galicia S.A. $GGAL

Triasima Portfolio Management inc. lessened its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 6.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 6,873 shares of the bank’s stock after selling 447 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Grupo Financiero Galicia were worth $346,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GGAL. Blume Capital Management Inc. purchased a new position in shares of Grupo Financiero Galicia in the 1st quarter worth approximately $55,000. Advisors Preferred LLC lifted its stake in Grupo Financiero Galicia by 272.2% in the first quarter. Advisors Preferred LLC now owns 1,098 shares of the bank’s stock valued at $61,000 after purchasing an additional 803 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Grupo Financiero Galicia by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank’s stock valued at $165,000 after purchasing an additional 304 shares during the last quarter. Vontobel Holding Ltd. purchased a new position in Grupo Financiero Galicia in the first quarter valued at approximately $225,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in Grupo Financiero Galicia in the first quarter valued at approximately $230,000.

Wall Street Analyst Weigh In

Several research firms recently commented on GGAL. Citigroup downgraded Grupo Financiero Galicia from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 10th. Hsbc Global Res upgraded Grupo Financiero Galicia to a “strong-buy” rating in a research note on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Grupo Financiero Galicia in a research report on Saturday, September 27th. Zacks Research downgraded Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 28th. Finally, Wall Street Zen downgraded Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.00.

Grupo Financiero Galicia Trading Down 3.4%

NASDAQ:GGAL opened at $27.80 on Wednesday. The company has a market cap of $4.10 billion, a P/E ratio of 4.09 and a beta of 1.54. The stock’s fifty day moving average price is $38.89 and its two-hundred day moving average price is $49.62. Grupo Financiero Galicia S.A. has a 1 year low of $25.89 and a 1 year high of $74.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16.

Grupo Financiero Galicia Announces Dividend

The company also recently declared a special dividend, which was paid on Tuesday, October 7th. Stockholders of record on Tuesday, September 30th were issued a $0.1381 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. Grupo Financiero Galicia’s dividend payout ratio is presently 10.46%.

Grupo Financiero Galicia Profile

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.