Grupo Financiero Galicia SA (NASDAQ:GGAL) shares shot up 1.5% 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.

A number of brokerages recently weighed in on GGAL. Zacks Investment Research upgraded shares of Grupo Financiero Galicia SA from a “sell” rating to a “hold” rating in a report on Thursday, June 30th. Goldman Sachs Group Inc. began coverage on shares of Grupo Financiero Galicia SA in a report on Wednesday, April 27th. They issued a “neutral” rating for the company. Credit Suisse Group AG initiated coverage on shares of Grupo Financiero Galicia SA in a report on Tuesday, March 29th. They issued a “neutral” rating and a $31.00 price objective for the company. Finally, Santander initiated coverage on shares of Grupo Financiero Galicia SA in a report on Wednesday, March 23rd. They set an “underperform” rating and a $31.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Grupo Financiero Galicia SA currently has an average rating of “Hold” and a consensus target price of $31.33.

The company has a 50-day moving average of $30.14 and a 200-day moving average of $28.40. The stock has a market capitalization of $4.21 billion and a P/E ratio of 13.09.

Other hedge funds and institutional investors recently made changes to their positions in the company. Schroder Investment Management Group raised its position in shares of 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 valued at $29,980,000 after buying an additional 169,989 shares during the last quarter. Morgan Stanley raised its position in shares of Grupo Financiero Galicia SA by 228.7% in the fourth quarter. Morgan Stanley now owns 1,403,263 shares of the company’s stock valued at $38,001,000 after buying an additional 976,292 shares during the last quarter. Penserra Capital Management LLC bought a new position in shares of Grupo Financiero Galicia SA during the fourth quarter valued at $1,316,000. Shell Asset Management Co. bought a new position in shares of Grupo Financiero Galicia SA during the fourth quarter valued at $1,589,000. Finally, Russell Frank Co raised its position in shares of Grupo Financiero Galicia SA by 23.6% in the fourth quarter. Russell Frank Co now owns 311,898 shares of the company’s stock valued at $8,389,000 after buying an additional 59,617 shares during 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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