GAM Holding AG Acquires New Stake in Grupo Financiero Galicia S.A. $GGAL

GAM Holding AG acquired a new stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,000 shares of the bank’s stock, valued at approximately $276,000.

Other large investors also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its holdings in shares of Grupo Financiero Galicia by 149.5% in the first quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock valued at $490,000 after acquiring an additional 5,394 shares in the last quarter. Systrade AG lifted its position in Grupo Financiero Galicia by 49.2% in the second quarter. Systrade AG now owns 15,167 shares of the bank’s stock valued at $764,000 after purchasing an additional 5,000 shares during the period. Diversified Trust Co acquired a new stake in Grupo Financiero Galicia in the second quarter valued at about $413,000. ABS Direct Equity Fund LLC boosted its holdings in Grupo Financiero Galicia by 33.0% in the 2nd quarter. ABS Direct Equity Fund LLC now owns 27,648 shares of the bank’s stock valued at $1,393,000 after purchasing an additional 6,857 shares in the last quarter. Finally, LBP AM SA increased its position in Grupo Financiero Galicia by 44.7% during the 2nd quarter. LBP AM SA now owns 12,300 shares of the bank’s stock worth $620,000 after purchasing an additional 3,800 shares during the period.

Grupo Financiero Galicia Stock Performance

GGAL opened at $53.35 on Monday. The company has a market cap of $7.87 billion, a price-to-earnings ratio of 26.94 and a beta of 1.47. Grupo Financiero Galicia S.A. has a one year low of $25.89 and a one year high of $74.00. The business’s fifty day moving average is $52.74 and its two-hundred day moving average is $45.48.

Grupo Financiero Galicia Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 29th will be given a dividend of $0.1423 per share. The ex-dividend date is Monday, December 29th. This is an increase from Grupo Financiero Galicia’s previous monthly dividend of $0.14. This represents a c) dividend on an annualized basis and a yield of 3.2%. Grupo Financiero Galicia’s dividend payout ratio (DPR) is presently 86.36%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Grupo Financiero Galicia in a report on Monday, December 29th. Zacks Research raised Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Hsbc Global Res raised shares of Grupo Financiero Galicia to a “strong-buy” rating in a research note on Wednesday, October 1st. UBS Group began coverage on shares of Grupo Financiero Galicia in a report on Wednesday, November 19th. They issued a “hold” rating and a $60.00 price target for the company. Finally, Wall Street Zen raised shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Grupo Financiero Galicia presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.25.

Grupo Financiero Galicia Company Profile

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.