Arrowstreet Capital Limited Partnership Reduces Position in Grupo Financiero Galicia S.A. $GGAL

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,066,605 shares of the bank’s stock after selling 70,046 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.72% of Grupo Financiero Galicia worth $53,746,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Seven Grand Managers LLC acquired a new position in Grupo Financiero Galicia during the second quarter valued at $10,078,000. Insigneo Advisory Services LLC raised its stake in shares of Grupo Financiero Galicia by 112.9% during the 2nd quarter. Insigneo Advisory Services LLC now owns 40,648 shares of the bank’s stock valued at $2,048,000 after buying an additional 21,552 shares during the last quarter. JPMorgan Chase & Co. lifted 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. Sagil Capital LLP acquired a new position in shares of Grupo Financiero Galicia in the 2nd quarter valued at about $9,826,000. Finally, Handelsbanken Fonder AB boosted its stake in shares of Grupo Financiero Galicia by 66.1% in the second quarter. Handelsbanken Fonder AB now owns 46,479 shares of the bank’s stock worth $2,342,000 after buying an additional 18,500 shares during the last quarter.

Grupo Financiero Galicia Stock Down 2.2%

GGAL stock opened at $51.78 on Friday. The stock has a market capitalization of $7.64 billion, a P/E ratio of 26.15 and a beta of 1.45. The firm has a 50-day simple moving average of $43.92 and a 200-day simple moving average of $46.49. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. Grupo Financiero Galicia S.A. has a 52 week low of $25.89 and a 52 week high of $74.00.

Grupo Financiero Galicia Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, December 1st will be given a $0.1406 dividend. This represents a c) annualized dividend and a dividend yield of 3.3%. This is a boost from Grupo Financiero Galicia’s previous monthly dividend of $0.13. The ex-dividend date is Monday, December 1st. Grupo Financiero Galicia’s dividend payout ratio (DPR) is 85.35%.

Wall Street Analyst Weigh In

GGAL has been the subject of several recent research reports. Hsbc Global Res upgraded Grupo Financiero Galicia to a “strong-buy” rating in a research report on Wednesday, October 1st. Zacks Research cut shares of Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 28th. JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $46.00 to $75.00 in a research note on Tuesday, October 28th. Wall Street Zen downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Finally, The Goldman Sachs Group upgraded shares of Grupo Financiero Galicia to a “hold” rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $71.40.

About Grupo Financiero Galicia

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.