Envestnet Asset Management Inc. Trims Stock Position in Grupo Financiero Galicia S.A. $GGAL

Envestnet Asset Management Inc. cut its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,463 shares of the bank’s stock after selling 1,674 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Grupo Financiero Galicia were worth $2,291,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Banco Santander S.A. raised its position in shares of Grupo Financiero Galicia by 578.7% in the first quarter. Banco Santander S.A. now owns 33,458 shares of the bank’s stock valued at $1,822,000 after buying an additional 28,528 shares during the last quarter. Diversified Trust Co acquired a new position in Grupo Financiero Galicia in the second quarter valued at about $413,000. Banco BTG Pactual S.A. boosted its position in shares of Grupo Financiero Galicia by 62.3% during the first quarter. Banco BTG Pactual S.A. now owns 163,558 shares of the bank’s stock worth $8,909,000 after buying an additional 62,755 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Grupo Financiero Galicia in the first quarter valued at $7,209,000. Finally, Itau Unibanco Holding S.A. grew its stake in shares of Grupo Financiero Galicia by 112.3% in the first quarter. Itau Unibanco Holding S.A. now owns 469,272 shares of the bank’s stock valued at $24,624,000 after buying an additional 248,268 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on GGAL shares. JPMorgan Chase & Co. raised shares of Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $46.00 to $75.00 in a research report on Tuesday, October 28th. Hsbc Global Res raised Grupo Financiero Galicia to a “strong-buy” rating in a research report on Wednesday, October 1st. Zacks Research lowered Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a report on Thursday, August 28th. Wall Street Zen downgraded Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Finally, Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.25.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ GGAL opened at $51.46 on Tuesday. The stock has a market cap of $7.59 billion, a P/E ratio of 27.08 and a beta of 1.58. The firm’s 50-day simple moving average is $38.69 and its 200 day simple moving average is $47.19. Grupo Financiero Galicia S.A. has a fifty-two week low of $25.89 and a fifty-two week high of $74.00. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.23.

Grupo Financiero Galicia Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, November 10th. Stockholders of record on Monday, November 3rd were issued a $0.1349 dividend. The ex-dividend date was Monday, November 3rd. This represents a c) annualized dividend and a dividend yield of 3.1%. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 84.74%.

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.