Grupo Financiero Galicia SA (NASDAQ:GGAL) shares dropped 2.3% during mid-day trading on Friday . The company traded as low as $28.76 and last traded at $28.83, with a volume of 100,234 shares trading hands. The stock had previously closed at $29.50.

GGAL has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Grupo Financiero Galicia SA from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Goldman Sachs Group Inc. initiated coverage on shares of Grupo Financiero Galicia SA in a report on Wednesday, April 27th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Grupo Financiero Galicia SA currently has a consensus rating of “Hold” and a consensus price target of $32.00.

The company has a market cap of $3.75 billion and a price-to-earnings ratio of 11.77. The firm has a 50-day moving average of $30.38 and a 200 day moving average of $29.00.

Several large investors recently modified their holdings of GGAL. Morgan Stanley boosted its stake 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 worth $38,001,000 after buying an additional 976,292 shares in the last quarter. Schroder Investment Management Group raised its stake 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 worth $29,980,000 after buying an additional 169,989 shares during the last quarter. Finally, RS Investment Management Co. LLC acquired a new stake in shares of Grupo Financiero Galicia SA during the fourth quarter worth approximately $3,152,000.

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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