Handelsbanken Fonder AB Acquires 21,000 Shares of Grupo Financiero Galicia S.A. $GGAL

Handelsbanken Fonder AB boosted its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 45.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,479 shares of the bank’s stock after acquiring an additional 21,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Grupo Financiero Galicia were worth $1,860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC grew its holdings in shares of Grupo Financiero Galicia by 149.5% during the first quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock worth $490,000 after purchasing an additional 5,394 shares in the last quarter. AGF Management Ltd. purchased a new position in Grupo Financiero Galicia in the 2nd quarter worth approximately $12,662,000. SBI Securities Co. Ltd. raised its position in shares of Grupo Financiero Galicia by 240.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock valued at $61,000 after buying an additional 849 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Grupo Financiero Galicia by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock worth $2,748,000 after acquiring an additional 362 shares during the last quarter. Finally, Fiera Capital Corp bought a new stake in shares of Grupo Financiero Galicia during the 2nd quarter worth $5,555,000.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GGAL shares. UBS Group began coverage on Grupo Financiero Galicia in a research note on Wednesday, November 19th. They issued a “hold” rating and a $60.00 target price on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Grupo Financiero Galicia in a 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 cut shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. Finally, The Goldman Sachs Group upgraded shares of Grupo Financiero Galicia to a “hold” rating in a report on Monday, November 10th. One research 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $65.50.

Grupo Financiero Galicia Price Performance

Shares of GGAL stock opened at $44.03 on Thursday. The business has a 50-day moving average of $51.25 and a 200 day moving average of $45.68. Grupo Financiero Galicia S.A. has a 1-year low of $25.89 and a 1-year high of $66.24. The stock has a market capitalization of $6.49 billion, a PE ratio of 22.24 and a beta of 1.48.

Grupo Financiero Galicia Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 9th. Stockholders of record on Monday, March 2nd will be issued a $0.1541 dividend. This is a positive change from Grupo Financiero Galicia’s previous monthly dividend of $0.15. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Monday, March 2nd. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 93.43%.

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.