Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was downgraded by investment analysts at Santander from a “hold” rating to an “underperform” rating in a research report issued on Friday, The Fly reports.

GGAL has been the topic of a number of other research reports. BidaskClub cut Grupo Financiero Galicia from a “strong-buy” rating to a “buy” rating in a report on Friday, June 9th. Zacks Investment Research cut Grupo Financiero Galicia from a “strong-buy” rating to a “hold” rating in a report on Monday, May 22nd. Finally, Citigroup Inc. cut Grupo Financiero Galicia from a “neutral” rating to a “sell” rating in a report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Grupo Financiero Galicia presently has an average rating of “Hold” and an average target price of $44.50.

Grupo Financiero Galicia (NASDAQ:GGAL) traded down 2.52% on Friday, reaching $46.40. The company’s stock had a trading volume of 173,293 shares. Grupo Financiero Galicia has a 52-week low of $23.23 and a 52-week high of $48.00. The stock’s 50 day moving average price is $41.02 and its 200 day moving average price is $40.11. The firm has a market cap of $6.03 billion, a PE ratio of 15.55 and a beta of 1.27.

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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors increased its stake in Grupo Financiero Galicia by 73.3% in the 2nd quarter. Capital World Investors now owns 6,850,359 shares of the bank’s stock worth $292,099,000 after acquiring an additional 2,898,597 shares during the last quarter. Schroder Investment Management Group increased its stake in Grupo Financiero Galicia by 35.7% in the 1st quarter. Schroder Investment Management Group now owns 4,560,057 shares of the bank’s stock worth $175,426,000 after acquiring an additional 1,199,043 shares during the last quarter. Morgan Stanley increased its stake in Grupo Financiero Galicia by 9.4% in the 1st quarter. Morgan Stanley now owns 3,408,348 shares of the bank’s stock worth $129,040,000 after acquiring an additional 293,114 shares during the last quarter. PointState Capital LP increased its stake in Grupo Financiero Galicia by 10.2% in the 2nd quarter. PointState Capital LP now owns 2,428,391 shares of the bank’s stock worth $103,547,000 after acquiring an additional 225,500 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in Grupo Financiero Galicia by 0.3% in the 2nd quarter. Capital Research Global Investors now owns 2,173,622 shares of the bank’s stock worth $92,683,000 after acquiring an additional 6,266 shares during the last quarter. Institutional investors and hedge funds own 25.79% of the company’s stock.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company’s segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay).

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