Grupo Financiero Galicia S.A. $GGAL Shares Sold by Carmignac Gestion

Key Points

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Carmignac Gestion decreased its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 56.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 139,032 shares of the bank's stock after selling 181,467 shares during the period. Carmignac Gestion owned about 0.09% of Grupo Financiero Galicia worth $7,576,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Hsbc Holdings PLC increased its stake in Grupo Financiero Galicia by 3.1% during the first quarter. Hsbc Holdings PLC now owns 11,851,835 shares of the bank's stock valued at $644,503,000 after purchasing an additional 359,708 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 valued at $76,213,000 after purchasing an additional 196,270 shares during the last quarter. PointState Capital LP increased its stake in Grupo Financiero Galicia by 14.5% during the fourth quarter. PointState Capital LP now owns 577,337 shares of the bank's stock valued at $35,980,000 after purchasing an additional 73,168 shares during the last quarter. Two Sigma Investments LP increased its stake in Grupo Financiero Galicia by 0.4% during the fourth quarter. Two Sigma Investments LP now owns 471,443 shares of the bank's stock valued at $29,380,000 after purchasing an additional 1,917 shares during the last quarter. Finally, Duquesne Family Office LLC increased its stake in Grupo Financiero Galicia by 26.3% during the fourth quarter. Duquesne Family Office LLC now owns 448,663 shares of the bank's stock valued at $27,961,000 after purchasing an additional 93,400 shares during the last quarter.

Analysts Set New Price Targets

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

Grupo Financiero Galicia Stock Performance

Shares of Grupo Financiero Galicia stock traded down $0.84 during trading on Friday, hitting $45.27. 1,819,616 shares of the stock were exchanged, compared to its average volume of 1,027,649. The stock's fifty day moving average is $50.10 and its 200 day moving average is $55.35. The stock has a market cap of $6.68 billion, a PE ratio of 6.67 and a beta of 1.60. 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 12 month low of $33.04 and a 12 month high of $74.00.

Grupo Financiero Galicia Cuts Dividend

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

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.