Mirae Asset Global Investments Co. Ltd. Takes $4.71 Million Position in Grupo Financiero Galicia S.A. (GGAL)

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 185,233 shares of the bank’s stock, valued at approximately $4,710,000. Mirae Asset Global Investments Co. Ltd. owned about 0.13% of Grupo Financiero Galicia at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in GGAL. Tower Research Capital LLC TRC purchased a new position in shares of Grupo Financiero Galicia during the second quarter worth approximately $122,000. Victory Capital Management Inc. purchased a new position in shares of Grupo Financiero Galicia during the third quarter worth approximately $112,000. Exane Derivatives raised its stake in shares of Grupo Financiero Galicia by 163.7% during the third quarter. Exane Derivatives now owns 5,686 shares of the bank’s stock worth $146,000 after acquiring an additional 3,530 shares in the last quarter. Pinebridge Investments L.P. purchased a new position in shares of Grupo Financiero Galicia during the second quarter worth approximately $234,000. Finally, Marshall Wace LLP purchased a new position in shares of Grupo Financiero Galicia during the second quarter worth approximately $372,000. Institutional investors and hedge funds own 23.03% of the company’s stock.

Shares of NASDAQ GGAL opened at $27.74 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.20 and a current ratio of 1.15. Grupo Financiero Galicia S.A. has a 52 week low of $18.30 and a 52 week high of $73.45.

Several research firms have commented on GGAL. Zacks Investment Research raised shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 14th. BidaskClub raised shares of Grupo Financiero Galicia from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 22nd. ValuEngine downgraded shares of Grupo Financiero Galicia from a “sell” rating to a “strong sell” rating in a research note on Monday, August 20th. TheStreet downgraded shares of Grupo Financiero Galicia from a “b-” rating to a “c+” rating in a research note on Friday, August 24th. Finally, Bank of America downgraded shares of Grupo Financiero Galicia from a “buy” rating to a “neutral” rating in a research note on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Grupo Financiero Galicia presently has an average rating of “Hold” and a consensus target price of $87.00.

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About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial services holding company, provides various financial products and services in Argentina. The company operates through Banking, Regional Credit Cards, Insurance, and Other Grupo Galicia Businesses segments. It offers corporate banking services to companies; credit and debit cards, loans, and financing advice to various agricultural-sector clients; foreign trade transaction services; and e-banking services.

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Institutional Ownership by Quarter for Grupo Financiero Galicia (NASDAQ:GGAL)

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