Invesco Ltd. Purchases 2,162 Shares of Grupo Financiero Galicia S.A. $GGAL

Invesco Ltd. grew its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 5.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,350 shares of the bank’s stock after purchasing an additional 2,162 shares during the period. Invesco Ltd.’s holdings in Grupo Financiero Galicia were worth $2,198,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Blume Capital Management Inc. acquired a new position in shares of Grupo Financiero Galicia in the 1st quarter worth approximately $55,000. Advisors Preferred LLC increased its holdings in Grupo Financiero Galicia by 272.2% during the 1st quarter. Advisors Preferred LLC now owns 1,098 shares of the bank’s stock worth $61,000 after purchasing an additional 803 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Grupo Financiero Galicia by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank’s stock worth $165,000 after buying an additional 304 shares during the last quarter. Wallace Advisory Group LLC acquired a new position in shares of Grupo Financiero Galicia during the 1st quarter worth about $182,000. Finally, Vontobel Holding Ltd. acquired a new stake in Grupo Financiero Galicia in the 1st quarter valued at about $225,000.

Grupo Financiero Galicia Trading Down 1.3%

Shares of GGAL stock opened at $39.28 on Friday. Grupo Financiero Galicia S.A. has a 52-week low of $34.76 and a 52-week high of $74.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16. The company has a 50-day simple moving average of $48.77 and a two-hundred day simple moving average of $54.54. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 5.78 and a beta of 1.60.

Grupo Financiero Galicia Cuts Dividend

The business also recently announced a special dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 29th will be paid a $0.1504 dividend. The ex-dividend date is Friday, August 29th. Grupo Financiero Galicia’s payout ratio is presently 6.19%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GGAL shares. Wall Street Zen downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. Itau BBA Securities began coverage on shares of Grupo Financiero Galicia in a research note on Tuesday, May 20th. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Zacks Research cut shares of Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Grupo Financiero Galicia presently has an average rating of “Moderate Buy” and an average target price of $72.00.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.