Victory Capital Management Inc. Makes New Investment in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Key Points

• Victory Capital Management Inc. acquired 132,341 shares of Grupo Financiero Galicia S.A., valuing approximately $7.2 million, which represents around 0.09% of the company's total shares.
• Grupo Financiero Galicia announced a dividend cut, with a payout ratio of just 3.98%, and the upcoming dividend set to be paid on August 5th.
• The stock has seen a price target shift among analysts, with one analyst rating it as a "sell" and a consensus price target of $61.20, reflecting varying outlooks on its performance.

Victory Capital Management Inc. purchased a new stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 132,341 shares of the bank's stock, valued at approximately $7,209,000. Victory Capital Management Inc. owned approximately 0.09% of Grupo Financiero Galicia as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GGAL. CIBC Private Wealth Group LLC acquired a new stake in Grupo Financiero Galicia during the 4th quarter valued at $34,000. Compass Group LLC bought a new position in shares of Grupo Financiero Galicia during the 4th quarter valued at about $67,000. GeoWealth Management LLC bought a new stake in shares of Grupo Financiero Galicia in the fourth quarter valued at about $71,000. Wallace Advisory Group LLC bought a new stake in shares of Grupo Financiero Galicia during the 1st quarter worth approximately $182,000. Finally, Mirabella Financial Services LLP bought a new stake in Grupo Financiero Galicia in the fourth quarter valued at approximately $217,000.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GGAL shares. Itau BBA Securities started coverage on Grupo Financiero Galicia in a report on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 price objective on the stock. Wall Street Zen lowered Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $61.20.

Grupo Financiero Galicia Price Performance

NASDAQ:GGAL traded down $0.60 during trading hours on Monday, hitting $51.18. 594,327 shares of the company's stock traded hands, compared to its average volume of 1,284,730. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The business's fifty day simple moving average is $53.55 and its two-hundred day simple moving average is $57.75. Grupo Financiero Galicia S.A. has a 52 week low of $23.53 and a 52 week high of $74.00. The firm has a market cap of $7.55 billion, a P/E ratio of 7.54 and a beta of 1.64.

Grupo Financiero Galicia Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 29th will be given a $0.1515 dividend. The ex-dividend date is Tuesday, July 29th. Grupo Financiero Galicia's dividend payout ratio is currently 3.98%.

Grupo Financiero Galicia Profile

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.