Grupo Financiero Galicia SA (NASDAQ:GGAL) shares rose 1.5% during trading on Wednesday . The company traded as high as $31.86 and last traded at $31.59, with a volume of 183,819 shares trading hands. The stock had previously closed at $31.12.

GGAL has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Grupo Financiero Galicia SA from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a research note on Monday, March 21st. Santander initiated coverage on shares of Grupo Financiero Galicia SA in a research note on Wednesday, March 23rd. They set an “underperform” rating and a $31.00 price objective on the stock. Credit Suisse Group AG initiated coverage on shares of Grupo Financiero Galicia SA in a research note on Tuesday, March 29th. They set a “neutral” rating and a $31.00 price objective on the stock. Finally, Goldman Sachs Group Inc. initiated coverage on shares of Grupo Financiero Galicia SA in a research note on Wednesday, April 27th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $31.33.

The stock has a 50-day moving average price of $29.84 and a 200-day moving average price of $28.35. The firm has a market cap of $4.12 billion and a P/E ratio of 12.82.

Other institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new position in Grupo Financiero Galicia SA during the fourth quarter worth approximately $1,316,000. Shell Asset Management Co. purchased a new position in Grupo Financiero Galicia SA during the fourth quarter worth approximately $1,589,000. Russell Frank Co raised its position in Grupo Financiero Galicia SA by 23.6% in the fourth quarter. Russell Frank Co now owns 311,898 shares of the company’s stock worth $8,389,000 after buying an additional 59,617 shares in the last quarter. Schroder Investment Management Group raised its position in Grupo Financiero Galicia SA by 18.1% in the fourth quarter. Schroder Investment Management Group now owns 1,107,089 shares of the company’s stock worth $29,980,000 after buying an additional 169,989 shares in the last quarter. Finally, Morgan Stanley raised its position in Grupo Financiero Galicia SA by 228.7% in the fourth quarter. Morgan Stanley now owns 1,403,263 shares of the company’s stock worth $38,001,000 after buying an additional 976,292 shares in the last quarter.

Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. Banco de Galicia y Buenos Aires SA (Banco Galicia) is the Company’s largest subsidiary. Banco Galicia is a bank that provides, directly or through its subsidiaries, a range of financial products and services to large corporations, small and medium sized companies (SMEs), and individuals.

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