Edmond DE Rothschild Holding S.A. Trims Position in Grupo Financiero Galicia S.A. $GGAL

Key Points

• Edmond DE Rothschild Holding S.A. sold 12,490 shares of Grupo Financiero Galicia S.A., reducing its stake by 57.6%, leaving it with 9,180 shares valued at $500,000.
• Equities analysts have varied opinions on GGAL, with Itau BBA Securities setting an "outperform" rating and a $70 price target, while Zacks Research downgraded the stock to a "strong sell."
• Grupo Financiero Galicia recently announced a special dividend of $0.1504, with a dividend payout ratio (DPR) currently at 8.39%.

Edmond DE Rothschild Holding S.A. lessened its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 57.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,180 shares of the bank's stock after selling 12,490 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in Grupo Financiero Galicia were worth $500,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of GGAL. Ameriprise Financial Inc. acquired a new stake in shares of Grupo Financiero Galicia in the fourth quarter valued at approximately $24,089,000. Hsbc Holdings PLC grew its holdings in Grupo Financiero Galicia by 3.1% in the 1st quarter. Hsbc Holdings PLC now owns 11,851,835 shares of the bank's stock valued at $644,503,000 after buying an additional 359,708 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in shares of Grupo Financiero Galicia by 112.3% in the 1st quarter. Itau Unibanco Holding S.A. now owns 469,272 shares of the bank's stock worth $24,624,000 after acquiring an additional 248,268 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Grupo Financiero Galicia by 19.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,222,938 shares of the bank's stock worth $76,213,000 after acquiring an additional 196,270 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in shares of Grupo Financiero Galicia during the 1st quarter valued at about $7,209,000.

Grupo Financiero Galicia Price Performance

Shares of GGAL stock traded down $0.08 during midday trading on Thursday, reaching $31.99. 1,360,187 shares of the company traded hands, compared to its average volume of 1,456,513. The firm has a market cap of $4.72 billion, a PE ratio of 4.71 and a beta of 1.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16. The firm's 50 day simple moving average is $46.39 and its two-hundred day simple moving average is $53.30. Grupo Financiero Galicia S.A. has a 1-year low of $29.23 and a 1-year high of $74.00.

Grupo Financiero Galicia Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GGAL. Citigroup downgraded shares of Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a research note on Wednesday. Zacks Research lowered shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 28th. Wall Street Zen cut Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Saturday, September 6th. Finally, Itau BBA Securities started coverage on Grupo Financiero Galicia in a research note on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $81.00.

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.