Grupo Financiero Galicia S.A. $GGAL Shares Sold by Duquesne Family Office LLC

Key Points

• Duquesne Family Office LLC reduced its stake in Grupo Financiero Galicia S.A. by 15.0%, owning approximately $20.78 million worth of shares after selling 67,182 shares in the first quarter.
• Several other major investors have adjusted their positions in GGAL, with Mitsubishi UFJ Asset Management increasing its stake by 11.2% during the same period.
• Grupo Financiero Galicia recently declared a special dividend of $0.1504 per share, set to be paid on September 5th, with an ex-dividend date of August 29th.

Duquesne Family Office LLC trimmed its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 15.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 381,481 shares of the bank's stock after selling 67,182 shares during the period. Duquesne Family Office LLC owned about 0.26% of Grupo Financiero Galicia worth $20,779,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Itau Unibanco Holding S.A. lifted its position in shares of Grupo Financiero Galicia by 112.3% during the first quarter. Itau Unibanco Holding S.A. now owns 469,272 shares of the bank's stock worth $24,624,000 after purchasing an additional 248,268 shares in the last quarter. Freedom Investment Management Inc. lifted its position in shares of Grupo Financiero Galicia by 8.1% during the first quarter. Freedom Investment Management Inc. now owns 10,497 shares of the bank's stock worth $572,000 after purchasing an additional 790 shares in the last quarter. Banco BTG Pactual S.A. lifted its position in shares of Grupo Financiero Galicia by 62.3% during the first quarter. Banco BTG Pactual S.A. now owns 163,558 shares of the bank's stock worth $8,909,000 after purchasing an additional 62,755 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of Grupo Financiero Galicia by 3.1% during the first quarter. Hsbc Holdings PLC now owns 11,851,835 shares of the bank's stock worth $644,503,000 after purchasing an additional 359,708 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Grupo Financiero Galicia by 38.6% in the first quarter. Quantbot Technologies LP now owns 21,418 shares of the bank's stock valued at $1,167,000 after purchasing an additional 5,968 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms 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 price target on the stock. Wall Street Zen cut shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Zacks Research cut shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Grupo Financiero Galicia presently has a consensus rating of "Hold" and a consensus target price of $81.00.

Grupo Financiero Galicia Stock Performance

Grupo Financiero Galicia stock traded down $0.27 during mid-day trading on Tuesday, hitting $30.38. 3,384,513 shares of the company's stock traded hands, compared to its average volume of 1,441,154. Grupo Financiero Galicia S.A. has a one year low of $29.23 and a one year high of $74.00. The firm has a 50 day moving average price of $47.15 and a 200 day moving average price of $53.61. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The company has a market cap of $4.48 billion, a PE ratio of 4.46 and a beta of 1.71.

Grupo Financiero Galicia Cuts Dividend

The business also recently declared a special dividend, which was paid on Friday, September 5th. Shareholders of record on Friday, August 29th were given a dividend of $0.1504 per share. The ex-dividend date was Friday, August 29th. Grupo Financiero Galicia's payout ratio is 8.39%.

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.