Grupo Financiero Galicia S.A. $GGAL Stake Raised by NWI Management LP

Key Points

• NWI Management LP significantly increased its ownership in Grupo Financiero Galicia S.A. by 254.9% during the first quarter, now holding 99,312 shares valued at approximately $5.41 million.
• Shares of GGAL are currently trading around $39.99, down from a 1-year high of $74.00, with analysts having mixed ratings, including some recent downgrades to "sell".
• Grupo Financiero Galicia recently declared a special dividend of $0.1504 per share, set to be paid on September 5th, 2023.

NWI Management LP lifted its position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 254.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 99,312 shares of the bank's stock after acquiring an additional 71,325 shares during the period. Grupo Financiero Galicia accounts for 0.7% of NWI Management LP's portfolio, making the stock its 22nd biggest holding. NWI Management LP owned about 0.07% of Grupo Financiero Galicia worth $5,410,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in Grupo Financiero Galicia by 149.5% during the 1st quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank's stock valued at $490,000 after purchasing an additional 5,394 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Grupo Financiero Galicia by 4.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,272,932 shares of the bank's stock valued at $69,337,000 after purchasing an additional 49,994 shares during the period. Itau Unibanco Holding S.A. boosted its stake in Grupo Financiero Galicia by 112.3% during the 1st quarter. Itau Unibanco Holding S.A. now owns 469,272 shares of the bank's stock valued at $24,624,000 after purchasing an additional 248,268 shares during the period. Freedom Investment Management Inc. boosted its stake in Grupo Financiero Galicia by 8.1% during the 1st quarter. Freedom Investment Management Inc. now owns 10,497 shares of the bank's stock valued at $572,000 after purchasing an additional 790 shares during the period. Finally, Banco BTG Pactual S.A. boosted its stake in Grupo Financiero Galicia by 62.3% during the 1st quarter. Banco BTG Pactual S.A. now owns 163,558 shares of the bank's stock valued at $8,909,000 after purchasing an additional 62,755 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Zacks Research lowered shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 28th. Itau BBA Securities assumed coverage on shares of Grupo Financiero Galicia in a research note on Tuesday, May 20th. They set an "outperform" rating and a $70.00 target price for the company. Finally, Wall Street Zen lowered shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Saturday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $81.00.

Grupo Financiero Galicia Price Performance

GGAL stock traded up $0.11 during trading on Friday, hitting $40.10. The company had a trading volume of 2,147,546 shares, compared to its average volume of 2,001,872. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of 5.91 and a beta of 1.71. The business has a 50 day moving average of $47.55 and a 200 day moving average of $53.81. Grupo Financiero Galicia S.A. has a fifty-two week low of $36.56 and a fifty-two week high of $74.00. 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 Cuts Dividend

The business also recently disclosed a special dividend, which was paid on Friday, September 5th. Investors of record on Friday, August 29th were issued 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%.

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.