ABS Direct Equity Fund LLC Has $1.13 Million Holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

ABS Direct Equity Fund LLC boosted its position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 95.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,791 shares of the bank's stock after buying an additional 10,152 shares during the quarter. Grupo Financiero Galicia makes up about 1.5% of ABS Direct Equity Fund LLC's portfolio, making the stock its 25th biggest position. ABS Direct Equity Fund LLC's holdings in Grupo Financiero Galicia were worth $1,132,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC bought a new stake in shares of Grupo Financiero Galicia in the fourth quarter worth $34,000. Compass Group LLC acquired a new position in shares of Grupo Financiero Galicia during the 4th quarter worth about $67,000. GeoWealth Management LLC bought a new position in shares of Grupo Financiero Galicia in the 4th quarter valued at about $71,000. Empowered Funds LLC bought a new position in shares of Grupo Financiero Galicia in the 4th quarter valued at about $167,000. Finally, Wallace Advisory Group LLC acquired a new stake in shares of Grupo Financiero Galicia in the first quarter valued at about $182,000.

Grupo Financiero Galicia Trading Down 2.6%

GGAL stock opened at $54.67 on Friday. Grupo Financiero Galicia S.A. has a one year low of $23.53 and a one year high of $74.00. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 8.05 and a beta of 1.72. The company has a fifty day moving average price of $58.91 and a two-hundred day moving average price of $60.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11.

Grupo Financiero Galicia Cuts Dividend

The company also recently disclosed a -- dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd were given a dividend of $0.2631 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. Grupo Financiero Galicia's dividend payout ratio is 3.83%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GGAL. Itau BBA Securities assumed coverage on Grupo Financiero Galicia in a research note on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 price target for the company. Wall Street Zen cut shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.20.

About Grupo Financiero Galicia

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.

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