Driehaus Capital Management LLC Has $34.21 Million Stock Holdings in Grupo Financiero Galicia S.A. $GGAL

Key Points

• Driehaus Capital Management LLC reduced its stake in Grupo Financiero Galicia S.A. by 36.6% in Q1, selling 362,706 shares and now holds approximately 0.43% of the bank's stock valued at $34.2 million.
• Grupo Financiero Galicia announced a special dividend of $0.1504 payable on September 5th, with a dividend payout ratio of 6.19%.
• Research analysts have mixed views on the stock, with Wall Street Zen downgrading it to "sell" while others maintain a "buy" rating with a consensus price target of $67.50.

Driehaus Capital Management LLC trimmed its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 36.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628,057 shares of the bank's stock after selling 362,706 shares during the period. Driehaus Capital Management LLC owned about 0.43% of Grupo Financiero Galicia worth $34,210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of GGAL. Wells Fargo & Company MN increased its holdings in shares of Grupo Financiero Galicia by 494.1% during the 4th quarter. Wells Fargo & Company MN now owns 5,050 shares of the bank's stock valued at $315,000 after purchasing an additional 4,200 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Grupo Financiero Galicia during the 4th quarter valued at approximately $225,000. Northern Trust Corp increased its holdings in shares of Grupo Financiero Galicia by 50.7% during the 4th quarter. Northern Trust Corp now owns 12,581 shares of the bank's stock valued at $784,000 after purchasing an additional 4,234 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of Grupo Financiero Galicia during the 4th quarter valued at approximately $841,000. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Grupo Financiero Galicia by 402.3% during 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 in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GGAL shares. Wall Street Zen lowered shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Zacks Research lowered shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a report on Thursday, August 28th. Finally, Itau BBA Securities initiated coverage on shares of Grupo Financiero Galicia in a research note on Tuesday, May 20th. They set an "outperform" rating and a $70.00 price target on the stock. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.00.

Grupo Financiero Galicia Price Performance

NASDAQ:GGAL traded up $0.20 during trading hours on Tuesday, hitting $39.48. The company's stock had a trading volume of 3,895,862 shares, compared to its average volume of 1,344,404. The business's 50-day moving average is $48.55 and its two-hundred day moving average is $54.37. The company has a market capitalization of $5.82 billion, a PE ratio of 5.81 and a beta of 1.71. 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 52-week low of $36.56 and a 52-week high of $74.00.

Grupo Financiero Galicia Cuts Dividend

The company also recently disclosed a special dividend, which will be paid on Friday, September 5th. Stockholders of record on Friday, August 29th will be issued a $0.1504 dividend. The ex-dividend date is Friday, August 29th. Grupo Financiero Galicia's dividend payout ratio (DPR) is 8.39%.

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.