Grupo Financiero Galicia S.A. $GGAL Position Lifted by Ping Capital Management Inc.

Ping Capital Management Inc. raised its position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 7.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 408,000 shares of the bank’s stock after buying an additional 27,141 shares during the quarter. Grupo Financiero Galicia makes up approximately 3.8% of Ping Capital Management Inc.’s portfolio, making the stock its 4th biggest position. Ping Capital Management Inc. owned approximately 0.28% of Grupo Financiero Galicia worth $11,244,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Grupo Financiero Galicia in the 3rd quarter valued at $722,000. RWC Asset Management LLP grew its position in Grupo Financiero Galicia by 240.3% during the 3rd quarter. RWC Asset Management LLP now owns 826,175 shares of the bank’s stock worth $22,769,000 after purchasing an additional 583,403 shares during the last quarter. RWC Asset Advisors US LLC increased its stake in Grupo Financiero Galicia by 848.1% in the third quarter. RWC Asset Advisors US LLC now owns 1,540,187 shares of the bank’s stock valued at $42,448,000 after purchasing an additional 1,377,735 shares during the period. Deltec Asset Management LLC raised its holdings in shares of Grupo Financiero Galicia by 10.4% in the third quarter. Deltec Asset Management LLC now owns 21,300 shares of the bank’s stock valued at $587,000 after buying an additional 2,000 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Grupo Financiero Galicia during the third quarter worth about $165,000.

Analyst Ratings Changes

GGAL has been the subject of several analyst reports. JPMorgan Chase & Co. raised Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $46.00 to $75.00 in a research note on Tuesday, October 28th. Hsbc Global Res raised Grupo Financiero Galicia to a “strong-buy” rating in a report on Wednesday, October 1st. Zacks Research upgraded shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Sunday, January 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $66.25.

Grupo Financiero Galicia Stock Performance

Shares of NASDAQ GGAL opened at $53.74 on Friday. Grupo Financiero Galicia S.A. has a one year low of $25.89 and a one year high of $71.23. The firm has a market capitalization of $7.93 billion, a P/E ratio of 27.14 and a beta of 1.47. The company’s fifty day moving average is $52.08 and its two-hundred day moving average is $45.76.

Grupo Financiero Galicia Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, February 9th. Stockholders of record on Monday, February 2nd will be given a dividend of $0.1455 per share. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, February 2nd. This is a positive change from Grupo Financiero Galicia’s previous monthly dividend of $0.14. Grupo Financiero Galicia’s payout ratio is 86.36%.

Grupo Financiero Galicia Company Profile

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.