Verition Fund Management LLC Trims Holdings in Grupo Financiero Galicia S.A. $GGAL

Verition Fund Management LLC lowered its stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 47.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 493,044 shares of the bank’s stock after selling 440,489 shares during the period. Verition Fund Management LLC owned approximately 0.33% of Grupo Financiero Galicia worth $26,595,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in Grupo Financiero Galicia by 149.5% during the first quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock worth $490,000 after purchasing an additional 5,394 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Grupo Financiero Galicia by 0.7% in the second quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock valued at $2,748,000 after buying an additional 362 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of Grupo Financiero Galicia by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 11,824 shares of the bank’s stock valued at $596,000 after buying an additional 226 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Grupo Financiero Galicia by 93.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 75,302 shares of the bank’s stock valued at $3,794,000 after buying an additional 36,326 shares during the period. Finally, Marshall Wace LLP acquired a new position in Grupo Financiero Galicia during the 2nd quarter worth about $5,299,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GGAL shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Friday, March 27th. Zacks Research raised shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. Wall Street Zen lowered shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, JPMorgan Chase & Co. dropped 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 report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Grupo Financiero Galicia has a consensus rating of “Hold” and a consensus price target of $64.00.

Grupo Financiero Galicia Stock Performance

NASDAQ GGAL opened at $55.16 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.13 and a debt-to-equity ratio of 0.32. Grupo Financiero Galicia S.A. has a 52 week low of $25.89 and a 52 week high of $62.51. The stock has a market capitalization of $8.86 billion, a PE ratio of 24.30, a price-to-earnings-growth ratio of 0.38 and a beta of 1.32. The firm has a 50 day moving average of $46.08 and a two-hundred day moving average of $48.36.

Grupo Financiero Galicia (NASDAQ:GGAL) last announced its quarterly earnings data on Tuesday, May 26th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.70 billion. Grupo Financiero Galicia had a net margin of 7.13% and a return on equity of 18.96%. As a group, research analysts expect that Grupo Financiero Galicia S.A. will post 3.69 EPS for the current fiscal year.

Grupo Financiero Galicia Dividend Announcement

The firm also recently declared a monthly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were paid a $0.6229 dividend. The ex-dividend date was Monday, May 4th. This represents a c) dividend on an annualized basis and a yield of 13.6%. Grupo Financiero Galicia’s dividend payout ratio (DPR) is currently 213.66%.

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.