Gemsstock Ltd. Boosts Stock Position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Key Points

• Gemsstock Ltd. increased its stake in Grupo Financiero Galicia by 47% during the first quarter, owning 334,086 shares valued at approximately $18.2 million.
• The company recently cut its dividend, with shareholders receiving $0.1515 per share, reflecting a payout ratio of 16.94%.
• Analysts have mixed ratings on the stock, with one firm downgrading it to "sell" while others maintain a "Moderate Buy" rating and a consensus price target of $67.50.

Gemsstock Ltd. grew its position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 47.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 334,086 shares of the bank's stock after acquiring an additional 106,779 shares during the quarter. Grupo Financiero Galicia makes up approximately 6.9% of Gemsstock Ltd.'s holdings, making the stock its 3rd largest position. Gemsstock Ltd. owned 0.23% of Grupo Financiero Galicia worth $18,198,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Blume Capital Management Inc. acquired a new stake in shares of Grupo Financiero Galicia in the first quarter valued at $55,000. Compass Group LLC acquired a new stake in shares of Grupo Financiero Galicia in the fourth quarter valued at $67,000. Advisors Preferred LLC lifted its holdings in shares of Grupo Financiero Galicia by 272.2% in the first quarter. Advisors Preferred LLC now owns 1,098 shares of the bank's stock valued at $61,000 after buying an additional 803 shares during the period. GeoWealth Management LLC acquired a new stake in shares of Grupo Financiero Galicia in the fourth quarter valued at $71,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Grupo Financiero Galicia by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank's stock valued at $165,000 after buying an additional 304 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GGAL. Wall Street Zen downgraded Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Itau BBA Securities began coverage on Grupo Financiero Galicia in a report on Tuesday, May 20th. They set an "outperform" rating and a $70.00 target price for the company. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $67.50.

Grupo Financiero Galicia Stock Performance

Shares of GGAL stock traded down $0.06 during mid-day trading on Wednesday, reaching $52.14. The stock had a trading volume of 632,848 shares, compared to its average volume of 1,117,511. The firm's 50 day simple moving average is $51.24 and its 200 day simple moving average is $56.28. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. Grupo Financiero Galicia S.A. has a one year low of $32.52 and a one year high of $74.00. The firm has a market cap of $7.69 billion, a PE ratio of 7.68 and a beta of 1.60.

Grupo Financiero Galicia Cuts Dividend

The firm also recently declared a -- dividend, which was paid on Tuesday, August 5th. Investors of record on Tuesday, July 29th were issued a dividend of $0.1515 per share. The ex-dividend date of this dividend was Tuesday, July 29th. Grupo Financiero Galicia's dividend payout ratio (DPR) is currently 16.94%.

Grupo Financiero Galicia 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.