Robeco Institutional Asset Management B.V. Makes New $47.23 Million Investment in Grupo Financiero Galicia S.A. $GGAL

Robeco Institutional Asset Management B.V. bought a new position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,268,406 shares of the bank’s stock, valued at approximately $47,235,000. Robeco Institutional Asset Management B.V. owned about 0.79% of Grupo Financiero Galicia at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Deltec Asset Management LLC lifted its stake in shares of Grupo Financiero Galicia by 1.6% in the first quarter. Deltec Asset Management LLC now owns 25,900 shares of the bank’s stock worth $1,210,000 after buying an additional 400 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Grupo Financiero Galicia by 2.2% during the first quarter. Bank of New York Mellon Corp now owns 32,382 shares of the bank’s stock valued at $1,513,000 after acquiring an additional 686 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in Grupo Financiero Galicia in the 4th quarter worth approximately $39,000. Leonteq Securities AG raised its holdings in Grupo Financiero Galicia by 563.2% in the 1st quarter. Leonteq Securities AG now owns 2,036 shares of the bank’s stock worth $95,000 after acquiring an additional 1,729 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in Grupo Financiero Galicia by 9.1% during the 1st quarter. Royal Bank of Canada now owns 44,531 shares of the bank’s stock valued at $2,080,000 after purchasing an additional 3,729 shares during the last quarter.

Grupo Financiero Galicia Trading Down 1.9%

GGAL opened at $36.12 on Friday. Grupo Financiero Galicia S.A. has a 1-year low of $33.01 and a 1-year high of $62.51. The firm’s 50 day simple moving average is $40.43 and its two-hundred day simple moving average is $45.44.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its quarterly earnings results on Tuesday, August 25th. The bank reported $1.14 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.16. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.70 billion. As a group, sell-side analysts predict that Grupo Financiero Galicia S.A. will post 3.88 earnings per share for the current fiscal year.

Grupo Financiero Galicia Cuts Dividend

The business also recently announced a monthly dividend, which was paid on Monday, October 5th. Investors of record on Monday, September 28th were issued a $0.0479 dividend. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.57 dividend on an annualized basis and a yield of 1.6%. This is a decrease from Grupo Financiero Galicia’s previous monthly dividend of $0.0531. Grupo Financiero Galicia’s payout ratio is 23.27%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GGAL. UBS Group reduced their target price on Grupo Financiero Galicia from $60.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. JPMorgan Chase & Co. upped their price target on Grupo Financiero Galicia from $72.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Weiss Ratings cut Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research 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. Finally, Itau BBA Securities downgraded Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a report on Thursday, September 3rd. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $65.00.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA is an Argentine financial services holding company whose principal business is conducted through Banco de Galicia y Buenos Aires SAU., commonly known as Galicia. The group serves individuals, businesses, agricultural customers and public-sector entities across Argentina.

Through its banking operations, Galicia offers deposit accounts, consumer and commercial loans, credit and debit cards, payment services, cash management, foreign trade financing, investment products and digital banking services.