Carrhae Capital LLP Buys Shares of 1,360,220 Grupo Financiero Galicia S.A. $GGAL

Carrhae Capital LLP bought a new stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,360,220 shares of the bank’s stock, valued at approximately $68,052,000. Grupo Financiero Galicia makes up approximately 1.8% of Carrhae Capital LLP’s holdings, making the stock its 12th largest holding. Carrhae Capital LLP owned approximately 0.85% of Grupo Financiero Galicia as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in GGAL. Mak Capital One LLC purchased a new position in shares of Grupo Financiero Galicia in the 4th quarter valued at approximately $72,468,000. PointState Capital LP lifted its holdings in shares of Grupo Financiero Galicia by 170.6% during the fourth quarter. PointState Capital LP now owns 1,592,990 shares of the bank’s stock worth $85,926,000 after purchasing an additional 1,004,371 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Grupo Financiero Galicia by 52.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock valued at $97,629,000 after buying an additional 664,533 shares during the last quarter. Kora Management LP acquired a new position in Grupo Financiero Galicia in the 4th quarter worth approximately $29,038,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Grupo Financiero Galicia by 21.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,116,925 shares of the bank’s stock worth $114,188,000 after buying an additional 380,643 shares during the period.

Insiders Place Their Bets

In related news, Director Silvestre Moret acquired 224,000 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was bought at an average price of $5.36 per share, for a total transaction of $1,200,640.00. Following the completion of the purchase, the director directly owned 3,000,000 shares of the company’s stock, valued at approximately $16,080,000. The trade was a 8.07% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have acquired 802,791 shares of company stock valued at $4,253,109 over the last three months.

Grupo Financiero Galicia Trading Down 0.5%

GGAL stock traded down $0.24 during trading on Tuesday, hitting $44.12. 761,878 shares of the company’s stock were exchanged, compared to its average volume of 1,134,695. The business has a 50-day moving average price of $47.45 and a two-hundred day moving average price of $46.78. The stock has a market capitalization of $7.09 billion, a price-to-earnings ratio of 18.01, a PEG ratio of 0.23 and a beta of 1.28. Grupo Financiero Galicia S.A. has a 52-week low of $25.89 and a 52-week high of $62.51.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings data on Tuesday, August 25th. The bank reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.70 billion. On average, equities research analysts anticipate that Grupo Financiero Galicia S.A. will post 3.94 earnings per share for the current fiscal year.

Grupo Financiero Galicia Announces Dividend

The business also recently declared a monthly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were paid a dividend of $0.0531 per share. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, August 24th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is currently 23.67%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Zacks Research raised shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a report on Thursday, May 14th. Weiss Ratings lowered shares of Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 14th. Wall Street Zen raised Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research report on Saturday, June 27th. JPMorgan Chase & Co. boosted their target price on shares of Grupo Financiero Galicia from $72.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. Finally, Itau BBA Securities lowered shares of Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.33.

Grupo Financiero Galicia 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.