876,885 Shares in Grupo Financiero Galicia S.A. $GGAL Bought by TT International Asset Management LTD

Key Points

• TT International Asset Management LTD bought 876,885 shares of Grupo Financiero Galicia (NASDAQ:GGAL) in Q4 — about $47.0M — making GGAL its 2nd-largest holding (≈9.9%) and representing roughly 0.59% ownership of the company.
• Grupo Financiero Galicia raised its monthly dividend to $0.16 (paid Apr 6), implying a ~4.0% yield and a high dividend payout ratio of about 96.97%.
• The stock has a market capitalization near $7.1B and a P/E of ~24.3, reported a quarterly EPS loss of $(0.36), and carries a MarketBeat consensus rating of Hold with an average target price of $65.50.

TT International Asset Management LTD bought a new position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 876,885 shares of the bank's stock, valued at approximately $47,035,000. Grupo Financiero Galicia accounts for about 9.9% of TT International Asset Management LTD's holdings, making the stock its 2nd largest holding. TT International Asset Management LTD owned about 0.59% of Grupo Financiero Galicia at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GGAL. NewEdge Advisors LLC lifted its stake in Grupo Financiero Galicia by 149.5% in the 1st quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank's stock worth $490,000 after purchasing an additional 5,394 shares in the last quarter. Geode Capital Management LLC lifted its stake in Grupo Financiero Galicia by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 54,525 shares of the bank's stock worth $2,748,000 after purchasing an additional 362 shares in the last quarter. Cetera Investment Advisers lifted its stake in Grupo Financiero Galicia by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 11,824 shares of the bank's stock worth $596,000 after purchasing an additional 226 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Grupo Financiero Galicia by 93.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 75,302 shares of the bank's stock worth $3,794,000 after purchasing an additional 36,326 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Grupo Financiero Galicia in the 2nd quarter worth $5,299,000.

Grupo Financiero Galicia Trading Up 0.4%

Shares of NASDAQ GGAL opened at $48.12 on Friday. The firm's 50-day moving average price is $46.07 and its 200-day moving average price is $47.12. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of 24.30 and a beta of 1.46. Grupo Financiero Galicia S.A. has a 12-month low of $25.89 and a 12-month high of $66.24.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) last announced its earnings results on Saturday, February 14th. The bank reported ($0.36) earnings per share (EPS) for the quarter. The business had revenue of $666.89 million for the quarter. Grupo Financiero Galicia had a net margin of 7.13% and a return on equity of 18.96%. On average, equities analysts predict that Grupo Financiero Galicia S.A. will post 7.49 EPS for the current fiscal year.

Grupo Financiero Galicia Increases Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, April 6th. Stockholders of record on Monday, March 30th were given a dividend of $0.16 per share. The ex-dividend date was Monday, March 30th. This represents a c) annualized dividend and a dividend yield of 4.0%. This is a positive change from Grupo Financiero Galicia's previous monthly dividend of $0.15. Grupo Financiero Galicia's dividend payout ratio is currently 96.97%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen cut shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Saturday, February 7th. Zacks Research cut shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research note on Monday, February 9th. JPMorgan Chase & Co. decreased their price target on shares of Grupo Financiero Galicia from $75.00 to $72.00 and set an "overweight" rating on the stock in a research note on Thursday, February 19th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Grupo Financiero Galicia in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $65.50.

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.

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