Axiom Investors LLC DE Sells 55,006 Shares of Grupo Financiero Galicia S.A. $GGAL

Key Points

• Axiom Investors LLC DE has reduced its stake in Grupo Financiero Galicia S.A. by 3.6%, now holding approximately 1,465,954 shares valued at $79.8 million.
• The company recently declared a dividend of $0.1504 per share, with the ex-dividend date set for August 29th.
• Grupo Financiero Galicia's consensus rating stands at "Buy", with an average price target of $67.50, despite some brokerages downgrading the stock's rating.

Axiom Investors LLC DE trimmed its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 3.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,465,954 shares of the bank's stock after selling 55,006 shares during the quarter. Axiom Investors LLC DE owned 0.99% of Grupo Financiero Galicia worth $79,851,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GGAL. Vontobel Holding Ltd. acquired a new stake in shares of Grupo Financiero Galicia during the first quarter worth about $225,000. Whittier Trust Co. acquired a new position in Grupo Financiero Galicia during the first quarter worth about $675,000. Banco Santander S.A. grew its holdings in Grupo Financiero Galicia by 578.7% in the 1st quarter. Banco Santander S.A. now owns 33,458 shares of the bank's stock valued at $1,822,000 after buying an additional 28,528 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Grupo Financiero Galicia by 86.4% during the 4th quarter. Bank of America Corp DE now owns 28,861 shares of the bank's stock worth $1,799,000 after purchasing an additional 13,374 shares during the period. Finally, ABS Direct Equity Fund LLC grew its holdings in shares of Grupo Financiero Galicia by 95.4% during the 1st quarter. ABS Direct Equity Fund LLC now owns 20,791 shares of the bank's stock worth $1,132,000 after purchasing an additional 10,152 shares during the period.

Grupo Financiero Galicia Stock Performance

GGAL stock traded down $0.55 on Friday, reaching $39.09. The company's stock had a trading volume of 626,419 shares, compared to its average volume of 1,326,017. Grupo Financiero Galicia S.A. has a 52 week low of $34.76 and a 52 week high of $74.00. The company has a market capitalization of $5.76 billion, a P/E ratio of 5.75 and a beta of 1.60. The firm has a fifty day moving average of $49.02 and a two-hundred day moving average of $54.70. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16.

Grupo Financiero Galicia Cuts Dividend

The business also recently disclosed a special dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.1504 per share. The ex-dividend date of this dividend is Friday, August 29th. Grupo Financiero Galicia's dividend payout ratio (DPR) is currently 6.19%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GGAL shares. Itau BBA Securities started coverage on Grupo Financiero Galicia in a report on Tuesday, May 20th. They set an "outperform" rating and a $70.00 target price for the company. Wall Street Zen downgraded Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Four analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus 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.