Banco BTG Pactual S.A. Purchases 62,755 Shares of Grupo Financiero Galicia S.A. $GGAL

Key Points

• Banco BTG Pactual S.A. increased its investment in Grupo Financiero Galicia by 62.3% during the first quarter, holding a stake worth approximately $8.9 million.
• Grupo Financiero Galicia's stock has a 52-week range between $32.52 and $74.00, with the current price at $46.72.
• The company is facing scrutiny from analysts, with Wall Street Zen downgrading its rating to "sell", while other brokerages maintain a "buy" rating with a target price of $67.50.

Banco BTG Pactual S.A. increased its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 62.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 163,558 shares of the bank's stock after purchasing an additional 62,755 shares during the period. Grupo Financiero Galicia makes up 2.2% of Banco BTG Pactual S.A.'s holdings, making the stock its 11th largest position. Banco BTG Pactual S.A. owned approximately 0.11% of Grupo Financiero Galicia worth $8,909,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GGAL. Hsbc Holdings PLC boosted its stake in shares of Grupo Financiero Galicia by 9,082.3% during the 4th quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank's stock worth $721,935,000 after buying an additional 11,366,972 shares during the last quarter. Ameriprise Financial Inc. bought a new stake in shares of Grupo Financiero Galicia in the 4th quarter valued at about $24,089,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Grupo Financiero Galicia by 19.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,222,938 shares of the bank's stock valued at $76,213,000 after purchasing an additional 196,270 shares during the period. Itau Unibanco Holding S.A. raised its holdings in shares of Grupo Financiero Galicia by 402.3% in the 4th quarter. Itau Unibanco Holding S.A. now owns 221,004 shares of the bank's stock valued at $13,827,000 after purchasing an additional 177,004 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in shares of Grupo Financiero Galicia in the 1st quarter valued at about $7,209,000.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ GGAL traded down $2.2650 during midday trading on Monday, reaching $43.0050. The company's stock had a trading volume of 1,913,737 shares, compared to its average volume of 1,263,203. 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 fifty-two week low of $33.04 and a fifty-two week high of $74.00. The business's 50 day moving average price is $50.10 and its two-hundred day moving average price is $55.21. The company has a market cap of $6.34 billion, a P/E ratio of 6.32 and a beta of 1.60.

Grupo Financiero Galicia Cuts Dividend

The company also recently announced a -- dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 29th will be issued a $0.1504 dividend. 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 brokerages have recently issued reports on GGAL. Itau BBA Securities began coverage on shares of Grupo Financiero Galicia in a report on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 target price on the stock. Wall Street Zen cut shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Four research analysts have rated the stock with a Buy rating, According to MarketBeat, Grupo Financiero Galicia presently has an average rating of "Buy" and an average price target 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.