Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Shares Sold by Dorsey Wright & Associates

Dorsey Wright & Associates cut its position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 10.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,053 shares of the bank's stock after selling 10,534 shares during the period. Grupo Financiero Galicia makes up 1.2% of Dorsey Wright & Associates' holdings, making the stock its 22nd biggest holding. Dorsey Wright & Associates owned 0.06% of Grupo Financiero Galicia worth $4,796,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GGAL. Hsbc Holdings PLC increased its holdings in Grupo Financiero Galicia by 9,082.3% in the 4th quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank's stock valued at $721,935,000 after purchasing an additional 11,366,972 shares during the last quarter. Axiom Investors LLC DE lifted its stake in Grupo Financiero Galicia by 1,723.9% during the fourth quarter. Axiom Investors LLC DE now owns 1,520,960 shares of the bank's stock worth $94,786,000 after purchasing an additional 1,437,570 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Grupo Financiero Galicia in the fourth quarter valued at $78,711,000. 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 worth $76,213,000 after purchasing an additional 196,270 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Grupo Financiero Galicia by 3.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,050,575 shares of the bank's stock worth $65,472,000 after acquiring an additional 30,980 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GGAL. Itau BBA Securities began coverage on Grupo Financiero Galicia in a report on Tuesday, May 20th. They set an "outperform" rating and a $70.00 price target on the stock. Wall Street Zen downgraded Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.20.

Grupo Financiero Galicia Stock Performance

Shares of NASDAQ GGAL traded up $1.81 during trading hours on Thursday, reaching $51.06. The stock had a trading volume of 1,747,880 shares, compared to its average volume of 1,246,253. The firm has a 50-day moving average of $53.97 and a 200-day moving average of $58.21. The firm has a market cap of $7.53 billion, a price-to-earnings ratio of 7.52 and a beta of 1.64. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Grupo Financiero Galicia S.A. has a fifty-two week low of $23.53 and a fifty-two week high of $74.00.

Grupo Financiero Galicia Cuts Dividend

The firm also recently announced a -- dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 29th will be given a dividend of $0.1515 per share. The ex-dividend date is Tuesday, July 29th. Grupo Financiero Galicia's dividend payout ratio (DPR) is presently 3.98%.

Grupo Financiero Galicia 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.