Grupo Financiero Galicia S.A. $GGAL Stock Holdings Lifted by RWC Asset Management LLP

RWC Asset Management LLP lifted its position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 240.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 826,175 shares of the bank’s stock after acquiring an additional 583,403 shares during the quarter. Grupo Financiero Galicia makes up about 1.1% of RWC Asset Management LLP’s holdings, making the stock its 26th biggest holding. RWC Asset Management LLP owned 0.56% of Grupo Financiero Galicia worth $22,769,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Grupo Financiero Galicia by 52.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock worth $97,629,000 after buying an additional 664,533 shares during the period. RWC Asset Advisors US LLC grew its position in Grupo Financiero Galicia by 848.1% during the third quarter. RWC Asset Advisors US LLC now owns 1,540,187 shares of the bank’s stock valued at $42,448,000 after purchasing an additional 1,377,735 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in Grupo Financiero Galicia by 90.5% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank’s stock valued at $45,047,000 after buying an additional 424,693 shares during the period. Banco BTG Pactual S.A. boosted its stake in shares of Grupo Financiero Galicia by 198.3% during the 2nd quarter. Banco BTG Pactual S.A. now owns 487,916 shares of the bank’s stock valued at $24,586,000 after buying an additional 324,358 shares during the period. Finally, AGF Management Ltd. purchased a new position in shares of Grupo Financiero Galicia during the 2nd quarter valued at $12,662,000.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GGAL shares. Hsbc Global Res upgraded Grupo Financiero Galicia to a “strong-buy” rating in a research note on Wednesday, October 1st. Zacks Research raised shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. UBS Group initiated coverage on Grupo Financiero Galicia in a research report on Wednesday, November 19th. They issued a “hold” rating and a $60.00 price target for the company. Wall Street Zen downgraded Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.25.

Grupo Financiero Galicia Trading Down 2.5%

Shares of GGAL opened at $55.06 on Tuesday. The stock has a 50 day simple moving average of $52.76 and a 200-day simple moving average of $45.61. The stock has a market cap of $8.12 billion, a PE ratio of 27.81 and a beta of 1.47. Grupo Financiero Galicia S.A. has a 1 year low of $25.89 and a 1 year high of $72.51.

Grupo Financiero Galicia Increases Dividend

The company also recently announced a monthly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 29th were issued a $0.1423 dividend. This represents a c) annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, December 29th. This is a positive change from Grupo Financiero Galicia’s previous monthly dividend of $0.14. Grupo Financiero Galicia’s payout ratio is currently 86.36%.

About Grupo Financiero Galicia

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.