Grupo Financiero Galicia S.A. $GGAL Position Lowered by INCA Investments LLC

Key Points

• INCA Investments LLC reduced its stake in Grupo Financiero Galicia by 2.6%, making it the largest position in their investment portfolio, now valued at about $53.9 million.
• Analyst ratings for Grupo Financiero Galicia have recently seen mixed reviews, with Citigroup downgrading the stock while HSBC initiated its coverage with a buy rating and a price target of $60.00.
• The company declared a special dividend of $0.1381 per share, which was paid to shareholders on October 7th, reflecting a dividend payout ratio of 10.46%.

INCA Investments LLC lessened its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 2.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,069,878 shares of the bank's stock after selling 28,612 shares during the quarter. Grupo Financiero Galicia makes up about 20.9% of INCA Investments LLC's investment portfolio, making the stock its largest position. INCA Investments LLC owned about 0.73% of Grupo Financiero Galicia worth $53,911,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of GGAL. Blume Capital Management Inc. purchased a new position in shares of Grupo Financiero Galicia in the first quarter worth $55,000. Advisors Preferred LLC raised its stake in Grupo Financiero Galicia by 272.2% during the first quarter. Advisors Preferred LLC now owns 1,098 shares of the bank's stock valued at $61,000 after purchasing an additional 803 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Grupo Financiero Galicia by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank's stock valued at $165,000 after purchasing an additional 304 shares in the last quarter. Blue Trust Inc. raised its stake in Grupo Financiero Galicia by 184.7% during the second quarter. Blue Trust Inc. now owns 3,528 shares of the bank's stock valued at $178,000 after purchasing an additional 2,289 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in Grupo Financiero Galicia during the first quarter valued at $225,000.

Analyst Ratings Changes

A number of research firms recently issued reports on GGAL. Citigroup downgraded shares of Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a research note on Wednesday, September 10th. HSBC initiated coverage on shares of Grupo Financiero Galicia in a research note on Wednesday, October 1st. They set a "buy" rating and a $60.00 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 Friday, September 26th. Weiss Ratings restated a "hold (c)" rating on shares of Grupo Financiero Galicia in a report on Wednesday, October 8th. 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Grupo Financiero Galicia currently has an average rating of "Moderate Buy" and an average price target of $74.00.

Grupo Financiero Galicia Stock Up 3.3%

Shares of Grupo Financiero Galicia stock opened at $33.26 on Thursday. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 4.90 and a beta of 1.54. The firm's 50-day moving average is $36.71 and its two-hundred day moving average is $48.65. Grupo Financiero Galicia S.A. has a 1 year low of $25.89 and a 1 year high of $74.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16.

Grupo Financiero Galicia Dividend Announcement

The company also recently declared a special dividend, which was paid on Tuesday, October 7th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.1381 per share. The ex-dividend date of this dividend was Tuesday, September 30th. Grupo Financiero Galicia's dividend payout ratio is presently 10.46%.

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.

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