Grupo Financiero Galicia S.A. $GGAL Stock: RWC Asset Management LLP Increases Holdings

Key Points

• RWC Asset Management increased its Grupo Financiero Galicia stake by 4.3% in the third quarter, owning 890,348 shares valued at approximately $33.2 million. Several other institutional investors also established or expanded positions.
• Analyst sentiment is mixed, with the stock carrying an average “Hold” rating and a $65 consensus target price. Recent firms lowered ratings or price targets, including UBS, which cut its target from $60 to $45.
• GGAL shares recently traded at $37.91, near the lower end of their 52-week range, despite the company beating quarterly earnings and revenue estimates. The bank reduced its monthly dividend to $0.0479, equivalent to an annualized yield of about 1.5%.

RWC Asset Management LLP grew its position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 4.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 890,348 shares of the bank's stock after acquiring an additional 36,903 shares during the period. Grupo Financiero Galicia accounts for approximately 1.2% of RWC Asset Management LLP's investment portfolio, making the stock its 18th biggest position. RWC Asset Management LLP owned 0.55% of Grupo Financiero Galicia worth $33,157,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GGAL. Robeco Institutional Asset Management B.V. bought a new stake in Grupo Financiero Galicia during the 3rd quarter worth $47,235,000. ABS Direct Equity Fund LLC acquired a new position in Grupo Financiero Galicia in the 2nd quarter worth about $3,394,000. Carrhae Capital LLP bought a new position in Grupo Financiero Galicia in the second quarter valued at about $68,052,000. RWC Asset Advisors US LLC raised its position in Grupo Financiero Galicia by 52.2% in the second quarter. RWC Asset Advisors US LLC now owns 517,540 shares of the bank's stock valued at $25,893,000 after purchasing an additional 177,574 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new stake in shares of Grupo Financiero Galicia during the second quarter valued at about $490,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GGAL shares. Wall Street Zen upgraded Grupo Financiero Galicia from a "sell" rating to a "hold" rating in a report on Saturday, June 27th. UBS Group cut their target price on shares of Grupo Financiero Galicia from $60.00 to $45.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 13th. Itau BBA Securities lowered shares of Grupo Financiero Galicia from an "outperform" rating to a "market perform" rating in a report on Thursday, September 3rd. Finally, Weiss Ratings cut shares of Grupo Financiero Galicia from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Grupo Financiero Galicia presently has an average rating of "Hold" and an average target price of $65.00.

Grupo Financiero Galicia Stock Performance

Shares of GGAL stock traded up $1.79 on Friday, hitting $37.91. The company had a trading volume of 995,527 shares, compared to its average volume of 1,008,335. The firm has a market cap of $6.09 billion, a P/E ratio of 15.47, a P/E/G ratio of 0.19 and a beta of 1.29. The stock's 50-day moving average is $40.32 and its two-hundred day moving average is $45.39. Grupo Financiero Galicia S.A. has a twelve month low of $34.57 and a twelve month high of $62.51.

Grupo Financiero Galicia (NASDAQ:GGAL - Get Free Report) last posted its quarterly earnings data on Tuesday, August 25th. The bank reported $1.14 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.16. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.70 billion. Equities research analysts predict that Grupo Financiero Galicia S.A. will post 3.88 EPS for the current year.

Grupo Financiero Galicia Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, October 5th. Stockholders of record on Monday, September 28th were paid a $0.0479 dividend. The ex-dividend date of this dividend was Monday, September 28th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.5%. This is a decrease from Grupo Financiero Galicia's previous monthly dividend of $0.0531. Grupo Financiero Galicia's payout ratio is currently 23.27%.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia SA is an Argentine financial services holding company whose principal business is conducted through Banco de Galicia y Buenos Aires SAU., commonly known as Galicia. The group serves individuals, businesses, agricultural customers and public-sector entities across Argentina.

Through its banking operations, Galicia offers deposit accounts, consumer and commercial loans, credit and debit cards, payment services, cash management, foreign trade financing, investment products and digital banking services.

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