Carrhae Capital LLP Makes New $8.70 Million Investment in Grupo Financiero Galicia S.A. $GGAL

Key Points

• Carrhae Capital LLP initiated a new position in Grupo Financiero Galicia (NASDAQ:GGAL), acquiring 315,700 shares valued at approximately $8.70 million, which represents about 0.5% of Carrhae’s portfolio and is its 21st-largest holding.
• Grupo Financiero Galicia raised its monthly dividend to $0.1541 per share (annualized), implying a roughly 4.5% yield
• Analyst sentiment is mixed: MarketBeat shows a consensus "Hold" with an average target price of $65.50, alongside recent downgrades and varied firm-specific ratings (including JPMorgan's reduced $72 target and an overall split of buys, holds and sells).

Carrhae Capital LLP acquired a new position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 315,700 shares of the bank's stock, valued at approximately $8,701,000. Grupo Financiero Galicia makes up about 0.5% of Carrhae Capital LLP's portfolio, making the stock its 21st biggest holding. Carrhae Capital LLP owned approximately 0.21% of Grupo Financiero Galicia as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC boosted its holdings in Grupo Financiero Galicia by 149.5% in the first quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank's stock valued at $490,000 after purchasing an additional 5,394 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Grupo Financiero Galicia by 240.5% during the second quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank's stock worth $61,000 after purchasing an additional 849 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Grupo Financiero Galicia by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 54,525 shares of the bank's stock worth $2,748,000 after buying an additional 362 shares during the last quarter. Cetera Investment Advisers boosted its holdings in shares of Grupo Financiero Galicia by 1.9% in the 2nd quarter. Cetera Investment Advisers now owns 11,824 shares of the bank's stock valued at $596,000 after buying an additional 226 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Grupo Financiero Galicia by 66.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 46,479 shares of the bank's stock valued at $2,342,000 after buying an additional 18,500 shares in the last quarter.

Grupo Financiero Galicia Price Performance

GGAL stock opened at $41.55 on Wednesday. The company has a market cap of $6.13 billion, a price-to-earnings ratio of 20.98 and a beta of 1.48. The company has a fifty day moving average price of $49.13 and a 200 day moving average price of $45.63. Grupo Financiero Galicia S.A. has a 12 month low of $25.89 and a 12 month high of $66.24.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The bank reported ($0.36) earnings per share (EPS) for the quarter. Grupo Financiero Galicia had a return on equity of 18.96% and a net margin of 7.13%.The business had revenue of $1.61 billion for the quarter. As a group, analysts anticipate that Grupo Financiero Galicia S.A. will post 7.49 earnings per share for the current year.

Grupo Financiero Galicia Increases Dividend

The business also recently declared a monthly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were issued a dividend of $0.1541 per share. This is an increase from Grupo Financiero Galicia's previous monthly dividend of $0.15. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, March 2nd. Grupo Financiero Galicia's dividend payout ratio is 93.43%.

Analyst Upgrades and Downgrades

GGAL has been the topic of several research analyst reports. Zacks Research lowered shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research note on Monday, February 9th. JPMorgan Chase & Co. decreased their price objective on shares of Grupo Financiero Galicia from $75.00 to $72.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Grupo Financiero Galicia in a report on Monday, December 29th. Wall Street Zen cut Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research report on Saturday, February 7th. Finally, UBS Group started coverage on Grupo Financiero Galicia in a research report on Wednesday, November 19th. They issued a "hold" rating and a $60.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $65.50.

Grupo Financiero Galicia Profile

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country's largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.

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