Grupo Financiero Galicia S.A. $GGAL is RWC Asset Advisors US LLC’s 7th Largest Position

RWC Asset Advisors US LLC grew its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 52.2% in the second quarter, Holdings Channel reports. The fund owned 517,540 shares of the bank’s stock after purchasing an additional 177,574 shares during the period. Grupo Financiero Galicia accounts for about 5.8% of RWC Asset Advisors US LLC’s portfolio, making the stock its 7th largest holding. RWC Asset Advisors US LLC’s holdings in Grupo Financiero Galicia were worth $25,893,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of GGAL. Quantitative Investment Management LLC purchased a new stake in shares of Grupo Financiero Galicia in the second quarter valued at about $490,000. Amundi raised its stake in Grupo Financiero Galicia by 11.9% during the first quarter. Amundi now owns 149,789 shares of the bank’s stock worth $6,997,000 after purchasing an additional 15,962 shares during the period. Royal Bank of Canada boosted its holdings in Grupo Financiero Galicia by 9.1% in the 1st quarter. Royal Bank of Canada now owns 44,531 shares of the bank’s stock valued at $2,080,000 after purchasing an additional 3,729 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Grupo Financiero Galicia by 4.8% in the 1st quarter. Lazard Asset Management LLC now owns 165,572 shares of the bank’s stock valued at $7,734,000 after purchasing an additional 7,603 shares during the last quarter. Finally, Turim 21 Investimentos Ltda. grew its stake in shares of Grupo Financiero Galicia by 74.4% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 41,586 shares of the bank’s stock valued at $1,942,000 after buying an additional 17,746 shares during the period.

Insiders Place Their Bets

In other news, Director Silvestre Moret bought 224,000 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were bought at an average price of $5.36 per share, with a total value of $1,200,640.00. Following the completion of the transaction, the director directly owned 3,000,000 shares in the company, valued at $16,080,000. This trade represents a 8.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have purchased 802,791 shares of company stock valued at $4,253,109.

Grupo Financiero Galicia Price Performance

Shares of GGAL stock opened at $44.36 on Tuesday. Grupo Financiero Galicia S.A. has a 1-year low of $25.89 and a 1-year high of $62.51. The firm has a market cap of $7.13 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 0.23 and a beta of 1.28. The company has a 50-day moving average of $47.45 and a two-hundred day moving average of $46.78.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings results on Tuesday, August 25th. The bank reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.16. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Sell-side analysts anticipate that Grupo Financiero Galicia S.A. will post 3.94 EPS for the current fiscal year.

Grupo Financiero Galicia Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were issued a $0.0531 dividend. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, August 24th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 23.67%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GGAL shares. Weiss Ratings downgraded shares of Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 14th. Wall Street Zen upgraded Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Itau BBA Securities lowered Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 3rd. JPMorgan Chase & Co. raised their target price on Grupo Financiero Galicia from $72.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Finally, Zacks Research upgraded Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $68.33.

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.