Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Holdings Lifted by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC grew its position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 95.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,791 shares of the bank's stock after buying an additional 10,152 shares during the period. Grupo Financiero Galicia accounts for about 1.5% of ABS Direct Equity Fund LLC's portfolio, making the stock its 25th largest 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 also recently bought and sold shares of GGAL. Hsbc Holdings PLC raised its stake in shares of Grupo Financiero Galicia by 9,082.3% in the fourth quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank's stock worth $721,935,000 after purchasing an additional 11,366,972 shares during the last quarter. Axiom Investors LLC DE increased its stake in shares of Grupo Financiero Galicia by 1,723.9% in the 4th quarter. Axiom Investors LLC DE now owns 1,520,960 shares of the bank's stock valued at $94,786,000 after purchasing an additional 1,437,570 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Grupo Financiero Galicia during the 4th quarter valued at approximately $78,711,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Grupo Financiero Galicia by 19.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,222,938 shares of the bank's stock worth $76,213,000 after purchasing an additional 196,270 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Grupo Financiero Galicia by 3.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,050,575 shares of the bank's stock valued at $65,472,000 after purchasing an additional 30,980 shares during the last quarter.

Grupo Financiero Galicia Trading Down 0.4%

GGAL traded down $0.20 on Wednesday, reaching $54.15. 979,584 shares of the company's stock were exchanged, compared to its average volume of 1,148,471. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16. Grupo Financiero Galicia S.A. has a twelve month low of $23.53 and a twelve month high of $74.00. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 7.97 and a beta of 1.72. The company's 50 day moving average is $59.13 and its 200-day moving average is $60.49.

Grupo Financiero Galicia Cuts Dividend

The business also recently disclosed a -- dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd were issued a $0.2631 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. Grupo Financiero Galicia's payout ratio is currently 3.98%.

Analyst Ratings Changes

A number of research firms recently commented on GGAL. Wall Street Zen cut Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Itau BBA Securities assumed coverage on Grupo Financiero Galicia in a research report on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 price target on the stock. One 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 has a consensus rating of "Moderate Buy" and an average target price of $61.20.

Grupo Financiero Galicia Company 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.