Grupo Financiero Galicia S.A. $GGAL Shares Purchased by INCA Investments LLC

INCA Investments LLC raised its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 1.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,080,161 shares of the bank’s stock after buying an additional 10,283 shares during the period. Grupo Financiero Galicia makes up approximately 13.7% of INCA Investments LLC’s portfolio, making the stock its 3rd largest position. INCA Investments LLC’s holdings in Grupo Financiero Galicia were worth $29,769,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GGAL. NewEdge Advisors LLC grew its position in 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 purchasing an additional 5,394 shares in the last quarter. Ramirez Asset Management Inc. boosted its stake in shares of Grupo Financiero Galicia by 98.1% during the 2nd quarter. Ramirez Asset Management Inc. now owns 48,818 shares of the bank’s stock worth $2,460,000 after buying an additional 24,171 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Grupo Financiero Galicia by 184.7% in the 2nd quarter. Blue Trust Inc. now owns 3,528 shares of the bank’s stock valued at $178,000 after acquiring an additional 2,289 shares in the last quarter. Bayforest Capital Ltd bought a new position in shares of Grupo Financiero Galicia in the 2nd quarter valued at about $269,000. Finally, Activest Wealth Management increased its position in shares of Grupo Financiero Galicia by 1.8% in the second quarter. Activest Wealth Management now owns 33,728 shares of the bank’s stock valued at $1,700,000 after acquiring an additional 581 shares during the last quarter.

Grupo Financiero Galicia Price Performance

Shares of Grupo Financiero Galicia stock opened at $53.92 on Tuesday. The business has a fifty day simple moving average of $52.83 and a two-hundred day simple moving average of $46.06. Grupo Financiero Galicia S.A. has a 1 year low of $25.89 and a 1 year high of $67.54. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 27.23 and a beta of 1.44.

Grupo Financiero Galicia Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. The Goldman Sachs Group raised Grupo Financiero Galicia to a “hold” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. raised shares of Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and raised their target price for the company from $46.00 to $75.00 in a research note on Tuesday, October 28th. Wall Street Zen upgraded shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a report on Sunday, January 18th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Monday, December 29th. Finally, Citigroup upgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the 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 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.