Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Shares Purchased by Gemsstock Ltd.

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. lifted its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 47.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 334,086 shares of the bank's stock after buying an additional 106,779 shares during the quarter. Grupo Financiero Galicia makes up 6.9% of Gemsstock Ltd.'s portfolio, making the stock its 3rd biggest position. Gemsstock Ltd. owned approximately 0.23% of Grupo Financiero Galicia worth $18,198,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GGAL. Blume Capital Management Inc. acquired a new position in Grupo Financiero Galicia during the 1st quarter valued at about $55,000. Compass Group LLC acquired a new position in Grupo Financiero Galicia during the 4th quarter valued at about $67,000. Advisors Preferred LLC increased its stake in Grupo Financiero Galicia by 272.2% during the 1st 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 position in Grupo Financiero Galicia during the 4th quarter valued at about $71,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Grupo Financiero Galicia by 11.2% during the 1st 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.

Grupo Financiero Galicia Trading Down 2.4%

Shares of Grupo Financiero Galicia stock traded down $1.18 during trading on Friday, hitting $48.26. The stock had a trading volume of 1,607,541 shares, compared to its average volume of 1,060,626. The stock has a 50 day simple moving average of $51.00 and a 200 day simple moving average of $56.05. Grupo Financiero Galicia S.A. has a 1 year low of $32.52 and a 1 year high of $74.00. The company has a market capitalization of $7.12 billion, a PE ratio of 7.11 and a beta of 1.60. 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 Cuts Dividend

The firm also recently announced a -- dividend, which was paid on Tuesday, August 5th. Shareholders of record on Tuesday, July 29th were paid a $0.1515 dividend. The ex-dividend date was Tuesday, July 29th. Grupo Financiero Galicia's payout ratio is 16.94%.

Wall Street Analysts Forecast Growth

GGAL has been the topic of several recent research reports. Wall Street Zen cut shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Itau BBA Securities initiated coverage on shares of Grupo Financiero Galicia in a research report on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 target price on the stock. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Grupo Financiero Galicia has a consensus rating of "Moderate Buy" and a consensus price target of $67.50.

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.