Monaco Asset Management SAM Invests $413,000 in Grupo Financiero Galicia S.A. $GGAL

Monaco Asset Management SAM purchased a new position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,000 shares of the bank’s stock, valued at approximately $413,000.

A number of other hedge funds have also recently added to or reduced their stakes in GGAL. Hantz Financial Services Inc. increased its position in Grupo Financiero Galicia by 131.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 938 shares of the bank’s stock worth $26,000 after purchasing an additional 533 shares during the period. SBI Securities Co. Ltd. grew its holdings in Grupo Financiero Galicia by 240.5% during the second quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock worth $61,000 after acquiring an additional 849 shares during the period. Acuitas Investments LLC acquired a new stake in Grupo Financiero Galicia in the third quarter valued at $110,000. Raymond James Financial Inc. purchased a new stake in shares of Grupo Financiero Galicia during the 2nd quarter worth $151,000. Finally, SG Americas Securities LLC acquired a new position in shares of Grupo Financiero Galicia during the 3rd quarter worth $165,000.

Analysts Set New Price Targets

Several analysts recently commented on GGAL shares. UBS Group assumed coverage on shares of Grupo Financiero Galicia in a research note on Wednesday, November 19th. They issued a “hold” rating and a $60.00 price objective for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Monday, December 29th. Zacks Research lowered Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. Wall Street Zen downgraded Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Finally, Citigroup raised Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $65.50.

Grupo Financiero Galicia Stock Performance

Grupo Financiero Galicia stock opened at $49.64 on Friday. Grupo Financiero Galicia S.A. has a fifty-two week low of $25.89 and a fifty-two week high of $66.24. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of 25.07 and a beta of 1.44. The stock has a fifty day moving average of $52.25 and a two-hundred day moving average of $45.99.

Grupo Financiero Galicia Increases Dividend

The company also recently announced a monthly dividend, which was paid on Monday, February 9th. Shareholders of record on Monday, February 2nd were issued a $0.1455 dividend. This is a positive change from Grupo Financiero Galicia’s previous monthly dividend of $0.14. The ex-dividend date was Monday, February 2nd. This represents a c) dividend on an annualized basis and a yield of 3.5%. Grupo Financiero Galicia’s payout ratio is currently 88.38%.

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.