SPX Gestao de Recursos Ltda Lowers Holdings in Grupo Financiero Galicia S.A. $GGAL

SPX Gestao de Recursos Ltda trimmed its stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 91.9% during the 3rd quarter, Holdings Channel reports. The fund owned 30,000 shares of the bank’s stock after selling 338,261 shares during the quarter. SPX Gestao de Recursos Ltda’s holdings in Grupo Financiero Galicia were worth $827,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. RWC Asset Advisors US LLC lifted its holdings 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 acquiring an additional 1,377,735 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Grupo Financiero Galicia by 52.2% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock worth $97,629,000 after purchasing an additional 664,533 shares during the period. RWC Asset Management LLP increased its holdings in shares of Grupo Financiero Galicia by 240.3% during the 3rd quarter. RWC Asset Management LLP now owns 826,175 shares of the bank’s stock valued at $22,769,000 after purchasing an additional 583,403 shares in the last quarter. Itau Unibanco Holding S.A. lifted its stake in shares of Grupo Financiero Galicia by 90.5% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank’s stock valued at $45,047,000 after purchasing an additional 424,693 shares during the period. Finally, Banco BTG Pactual S.A. lifted its stake in shares of Grupo Financiero Galicia by 198.3% in the 2nd quarter. Banco BTG Pactual S.A. now owns 487,916 shares of the bank’s stock valued at $24,586,000 after purchasing an additional 324,358 shares during the period.

Grupo Financiero Galicia Stock Performance

NASDAQ:GGAL opened at $41.74 on Friday. The stock has a market capitalization of $6.16 billion, a PE ratio of 21.08 and a beta of 1.48. 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 fifty day moving average of $50.75 and a two-hundred day moving average of $45.61.

Grupo Financiero Galicia Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, March 2nd will be given a dividend of $0.1541 per share. This is a boost from Grupo Financiero Galicia’s previous monthly dividend of $0.15. The ex-dividend date is Monday, March 2nd. This represents a c) annualized dividend and a dividend yield of 4.4%. Grupo Financiero Galicia’s payout ratio is currently 93.43%.

Wall Street Analysts Forecast Growth

GGAL has been the topic of several analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Monday, December 29th. The Goldman Sachs Group raised shares of Grupo Financiero Galicia to a “hold” rating in a research note on Monday, November 10th. JPMorgan Chase & Co. dropped their target price on Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. UBS Group began coverage on Grupo Financiero Galicia in a report on Wednesday, November 19th. They issued a “hold” rating and a $60.00 price target for the company. Finally, Wall Street Zen downgraded Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.50.

About Grupo Financiero Galicia

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.