Absolute Gestao de Investimentos Ltda. Has $2.15 Million Stock Position in Grupo Financiero Galicia S.A. $GGAL

Key Points

• Absolute Gestao de Investimentos Ltda. has increased its holdings in Grupo Financiero Galicia S.A. by 63.3%, now owning approximately $2.15 million worth of shares.
• Wells Fargo significantly boosted its stake in Grupo Financiero Galicia by 494.1%, indicating strong institutional interest in the stock.
• Grupo Financiero Galicia was recently downgraded to a "sell" rating by Wall Street Zen, amidst mixed analyst opinions that still hold a consensus rating of "Moderate Buy."

Absolute Gestao de Investimentos Ltda. raised its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 63.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,500 shares of the bank's stock after buying an additional 15,317 shares during the quarter. Grupo Financiero Galicia accounts for about 0.9% of Absolute Gestao de Investimentos Ltda.'s holdings, making the stock its 17th biggest position. Absolute Gestao de Investimentos Ltda.'s holdings in Grupo Financiero Galicia were worth $2,152,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Blume Capital Management Inc. acquired a new position in Grupo Financiero Galicia in the 1st quarter valued at approximately $55,000. Advisors Preferred LLC raised its position in Grupo Financiero Galicia by 272.2% during the first quarter. Advisors Preferred LLC now owns 1,098 shares of the bank's stock valued at $61,000 after acquiring an additional 803 shares in the last quarter. Compass Group LLC bought a new position in Grupo Financiero Galicia during the fourth quarter valued at approximately $67,000. GeoWealth Management LLC bought a new position in Grupo Financiero Galicia during the fourth quarter valued at approximately $71,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Grupo Financiero Galicia by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank's stock valued at $165,000 after acquiring an additional 304 shares in the last quarter.

Grupo Financiero Galicia Stock Performance

GGAL traded down $0.84 during trading on Friday, reaching $45.27. 1,819,616 shares of the company's stock were exchanged, compared to its average volume of 1,027,649. Grupo Financiero Galicia S.A. has a fifty-two week low of $33.04 and a fifty-two week high of $74.00. 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 has a 50 day moving average price of $50.10 and a 200 day moving average price of $55.35. The company has a market capitalization of $6.68 billion, a P/E ratio of 6.67 and a beta of 1.60.

Grupo Financiero Galicia Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.1504 per share. The ex-dividend date is Friday, August 29th. Grupo Financiero Galicia's payout ratio is currently 6.19%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Itau BBA Securities assumed coverage on shares of Grupo Financiero Galicia in a research report on Tuesday, May 20th. They set an "outperform" rating and a $70.00 price objective on the stock. Wall Street Zen lowered shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $67.50.

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.