Diversify Wealth Management LLC Trims Stock Position in Grupo Financiero Galicia S.A. $GGAL

Diversify Wealth Management LLC trimmed its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 88.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,791 shares of the bank’s stock after selling 37,914 shares during the period. Diversify Wealth Management LLC’s holdings in Grupo Financiero Galicia were worth $132,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its holdings in shares of Grupo Financiero Galicia by 131.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 938 shares of the bank’s stock worth $26,000 after acquiring an additional 533 shares during the period. SBI Securities Co. Ltd. boosted its holdings in shares of Grupo Financiero Galicia by 240.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock valued at $61,000 after purchasing an additional 849 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Grupo Financiero Galicia during the 2nd quarter valued at $151,000. Acuitas Investments LLC purchased a new stake in shares of Grupo Financiero Galicia during the 3rd quarter valued at $110,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Grupo Financiero Galicia during the 3rd quarter worth $165,000.

Grupo Financiero Galicia Stock Down 4.6%

GGAL opened at $44.85 on Monday. The firm has a market capitalization of $6.61 billion, a P/E ratio of 22.65 and a beta of 1.49. The firm’s 50 day moving average is $51.85 and its 200-day moving average is $45.76. Grupo Financiero Galicia S.A. has a 52-week low of $25.89 and a 52-week high of $66.24.

Grupo Financiero Galicia Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, March 2nd will be issued a $0.1541 dividend. The ex-dividend date is Monday, March 2nd. This represents a c) dividend on an annualized basis and a yield of 4.1%. This is an increase from Grupo Financiero Galicia’s previous monthly dividend of $0.15. Grupo Financiero Galicia’s dividend payout ratio (DPR) is presently 88.38%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. The Goldman Sachs Group upgraded Grupo Financiero Galicia to a “hold” rating in a report on Monday, November 10th. Zacks Research cut Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a report on Monday, February 9th. Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a report on Monday, December 29th. UBS Group began coverage on shares of Grupo Financiero Galicia in a research note on Wednesday, November 19th. They set a “hold” rating and a $60.00 price objective for the company. Finally, Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $65.50.

About Grupo Financiero Galicia

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.