Grupo Financiero Galicia S.A. $GGAL Shares Purchased by RWC Asset Management LLP

RWC Asset Management LLP grew its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 890,348 shares of the bank’s stock after purchasing an additional 36,903 shares during the quarter. Grupo Financiero Galicia comprises about 1.2% of RWC Asset Management LLP’s portfolio, making the stock its 18th biggest position. RWC Asset Management LLP’s holdings in Grupo Financiero Galicia were worth $33,157,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Carrhae Capital LLP bought a new stake in Grupo Financiero Galicia in the second quarter worth approximately $68,052,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Grupo Financiero Galicia during the 3rd quarter worth approximately $47,235,000. RWC Asset Advisors US LLC boosted its holdings in shares of Grupo Financiero Galicia by 52.2% during the 2nd quarter. RWC Asset Advisors US LLC now owns 517,540 shares of the bank’s stock worth $25,893,000 after buying an additional 177,574 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of Grupo Financiero Galicia by 71.2% during the 4th quarter. Hsbc Holdings PLC now owns 186,852 shares of the bank’s stock worth $9,984,000 after buying an additional 77,740 shares during the period. Finally, Moerus Capital Management LLC acquired a new stake in shares of Grupo Financiero Galicia during the 1st quarter worth approximately $8,179,000.

Analysts Set New Price Targets

A number of research analysts 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 research report on Friday, August 14th. UBS Group reduced their price target on shares of Grupo Financiero Galicia from $60.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, October 13th. Wall Street Zen raised shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Itau BBA Securities lowered shares of Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a report on Thursday, September 3rd. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $65.00.

Grupo Financiero Galicia Stock Up 5.0%

NASDAQ:GGAL traded up $1.79 on Friday, hitting $37.91. The stock had a trading volume of 995,527 shares, compared to its average volume of 1,008,335. The business’s fifty day moving average is $40.32 and its 200 day moving average is $45.39. The company has a market cap of $6.09 billion, a PE ratio of 15.47, a P/E/G ratio of 0.19 and a beta of 1.29. Grupo Financiero Galicia S.A. has a 52 week low of $34.57 and a 52 week high of $62.51.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings data on Tuesday, August 25th. The bank reported $1.14 EPS for the quarter, beating the consensus estimate of $0.98 by $0.16. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.70 billion. Equities analysts predict that Grupo Financiero Galicia S.A. will post 3.88 earnings per share for the current fiscal year.

Grupo Financiero Galicia Cuts Dividend

The company also recently announced a monthly dividend, which was paid on Monday, October 5th. Investors of record on Monday, September 28th were issued a $0.0479 dividend. The ex-dividend date was Monday, September 28th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.5%. This is a decrease from Grupo Financiero Galicia’s previous monthly dividend of $0.0531. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 23.27%.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA is an Argentine financial services holding company whose principal business is conducted through Banco de Galicia y Buenos Aires SAU., commonly known as Galicia. The group serves individuals, businesses, agricultural customers and public-sector entities across Argentina.

Through its banking operations, Galicia offers deposit accounts, consumer and commercial loans, credit and debit cards, payment services, cash management, foreign trade financing, investment products and digital banking services.