Pekin Hardy Strauss Inc. Buys New Shares in Grupo Financiero Galicia S.A. $GGAL

Pekin Hardy Strauss Inc. purchased a new stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 27,300 shares of the bank’s stock, valued at approximately $752,000.

A number of other large investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Grupo Financiero Galicia by 52.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock valued at $97,629,000 after purchasing an additional 664,533 shares during the period. RWC Asset Advisors US LLC raised its holdings 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 worth $42,448,000 after buying an additional 1,377,735 shares during the last quarter. INCA Investments LLC raised its holdings in Grupo Financiero Galicia by 1.0% during the third quarter. INCA Investments LLC now owns 1,080,161 shares of the bank’s stock worth $29,769,000 after buying an additional 10,283 shares during the last quarter. Itau Unibanco Holding S.A. lifted its stake in shares of Grupo Financiero Galicia by 90.5% in the second 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 in the last quarter. Finally, RWC Asset Management LLP grew its holdings in shares of Grupo Financiero Galicia by 240.3% during the third quarter. RWC Asset Management LLP now owns 826,175 shares of the bank’s stock valued at $22,769,000 after buying an additional 583,403 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GGAL. Zacks Research downgraded Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. reduced their price objective on shares of Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating for the company in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Monday, December 29th. UBS Group initiated coverage on shares of Grupo Financiero Galicia in a research note on Wednesday, November 19th. They set a “hold” rating and a $60.00 price target for the company. Finally, Wall Street Zen downgraded Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Grupo Financiero Galicia currently has an average rating of “Hold” and a consensus price target of $65.50.

Grupo Financiero Galicia Trading Up 4.2%

Shares of GGAL stock opened at $49.64 on Friday. The firm’s 50 day moving average is $52.25 and its 200 day moving average is $45.99. The stock has a market capitalization of $7.32 billion, a P/E ratio of 25.07 and a beta of 1.44. Grupo Financiero Galicia S.A. has a 12 month low of $25.89 and a 12 month high of $66.24.

Grupo Financiero Galicia Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, February 9th. Shareholders of record on Monday, February 2nd were given a dividend of $0.1455 per share. This is an increase from Grupo Financiero Galicia’s previous monthly dividend of $0.14. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, February 2nd. Grupo Financiero Galicia’s dividend payout ratio (DPR) is currently 88.38%.

Grupo Financiero Galicia Company 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.