Grupo Financiero Galicia S.A. $GGAL Shares Purchased by Banco BTG Pactual S.A.

Banco BTG Pactual S.A. grew its stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 198.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 487,916 shares of the bank’s stock after acquiring an additional 324,358 shares during the quarter. Grupo Financiero Galicia comprises about 5.0% of Banco BTG Pactual S.A.’s portfolio, making the stock its 3rd biggest holding. Banco BTG Pactual S.A. owned approximately 0.33% of Grupo Financiero Galicia worth $24,586,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of GGAL. Cetera Investment Advisers raised its stake in Grupo Financiero Galicia by 1.9% in the second quarter. Cetera Investment Advisers now owns 11,824 shares of the bank’s stock valued at $596,000 after purchasing an additional 226 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Grupo Financiero Galicia by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank’s stock valued at $165,000 after buying an additional 304 shares during the period. Geode Capital Management LLC raised its position in shares of Grupo Financiero Galicia by 0.7% in the 2nd 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. Rokos Capital Management LLP lifted its holdings in shares of Grupo Financiero Galicia by 0.4% during the 2nd quarter. Rokos Capital Management LLP now owns 110,167 shares of the bank’s stock worth $5,549,000 after acquiring an additional 408 shares during the period. Finally, Activest Wealth Management boosted its position in shares of Grupo Financiero Galicia by 1.8% during the 2nd quarter. Activest Wealth Management now owns 33,728 shares of the bank’s stock worth $1,700,000 after acquiring an additional 581 shares in the last quarter.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ GGAL opened at $48.93 on Friday. The company has a market capitalization of $7.22 billion, a PE ratio of 24.71 and a beta of 1.45. 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 twelve month low of $25.89 and a twelve month high of $74.00. The firm has a fifty day simple moving average of $46.07 and a 200 day simple moving average of $46.04.

Grupo Financiero Galicia Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, December 8th. Investors of record on Monday, December 1st were paid a dividend of $0.1406 per share. This is an increase from Grupo Financiero Galicia’s previous monthly dividend of $0.13. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, December 1st. Grupo Financiero Galicia’s payout ratio is 85.35%.

Analyst Ratings Changes

Several brokerages have commented on GGAL. Zacks Research downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 28th. Wall Street Zen lowered Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Monday. Citigroup raised Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research note on Monday, November 3rd. Finally, UBS Group began coverage on Grupo Financiero Galicia in a research note on Wednesday, November 19th. They set a “hold” rating and a $60.00 target price for the company. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $71.40.

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.