INCA Investments LLC Acquires 10,283 Shares of Grupo Financiero Galicia S.A. $GGAL

INCA Investments LLC grew its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,080,161 shares of the bank’s stock after purchasing an additional 10,283 shares during the quarter. Grupo Financiero Galicia makes up approximately 13.7% of INCA Investments LLC’s holdings, making the stock its 3rd biggest holding. INCA Investments LLC owned about 0.73% of Grupo Financiero Galicia worth $29,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. boosted its stake in Grupo Financiero Galicia by 240.5% in the second quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock valued at $61,000 after acquiring an additional 849 shares during the last quarter. Acuitas Investments LLC bought a new stake in Grupo Financiero Galicia in the third quarter valued at about $110,000. Raymond James Financial Inc. bought a new stake in Grupo Financiero Galicia in the second quarter valued at about $151,000. SG Americas Securities LLC acquired a new position in Grupo Financiero Galicia in the third quarter valued at about $165,000. Finally, Blue Trust Inc. boosted its holdings in Grupo Financiero Galicia by 184.7% during the second quarter. Blue Trust Inc. now owns 3,528 shares of the bank’s stock worth $178,000 after buying an additional 2,289 shares during the last quarter.

Analyst Upgrades and Downgrades

GGAL has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Monday, December 29th. Zacks Research upgraded shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $46.00 to $75.00 in a report on Tuesday, October 28th. Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a report on Monday, November 3rd. Finally, Wall Street Zen upgraded shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research report on Sunday, January 18th. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.25.

Grupo Financiero Galicia Stock Performance

Shares of GGAL opened at $53.92 on Tuesday. Grupo Financiero Galicia S.A. has a twelve month low of $25.89 and a twelve month high of $67.54. The firm’s 50 day moving average price is $52.83 and its two-hundred day moving average price is $46.06. The firm has a market cap of $7.95 billion, a P/E ratio of 27.23 and a beta of 1.44.

Grupo Financiero Galicia Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, February 9th. Stockholders of record on Monday, February 2nd will be issued a $0.1455 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. This is a positive change from Grupo Financiero Galicia’s previous monthly dividend of $0.14. The ex-dividend date is Monday, February 2nd. Grupo Financiero Galicia’s dividend payout ratio is presently 86.36%.

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.