Insigneo Advisory Services LLC Boosts Position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Insigneo Advisory Services LLC lifted its position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 53.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,096 shares of the bank's stock after buying an additional 6,647 shares during the quarter. Insigneo Advisory Services LLC's holdings in Grupo Financiero Galicia were worth $1,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GGAL. Hsbc Holdings PLC grew its stake in shares of Grupo Financiero Galicia by 9,082.3% in the fourth quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank's stock valued at $721,935,000 after buying an additional 11,366,972 shares in the last quarter. Axiom Investors LLC DE lifted its holdings in shares of Grupo Financiero Galicia by 1,723.9% during the fourth quarter. Axiom Investors LLC DE now owns 1,520,960 shares of the bank's stock worth $94,786,000 after buying an additional 1,437,570 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Grupo Financiero Galicia in the fourth quarter valued at about $78,711,000. William Blair Investment Management LLC grew its position in Grupo Financiero Galicia by 778.9% in the fourth quarter. William Blair Investment Management LLC now owns 901,065 shares of the bank's stock valued at $56,152,000 after acquiring an additional 798,542 shares during the last quarter. Finally, Fourth Sail Capital LP bought a new position in Grupo Financiero Galicia in the fourth quarter valued at about $27,369,000.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ:GGAL traded down $2.15 on Friday, hitting $52.00. The company's stock had a trading volume of 1,124,679 shares, compared to its average volume of 1,146,507. The company has a market capitalization of $7.67 billion, a PE ratio of 7.66 and a beta of 1.72. 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 S.A. has a 1 year low of $23.53 and a 1 year high of $74.00. The company has a 50-day simple moving average of $59.23 and a 200 day simple moving average of $60.40.

Grupo Financiero Galicia Cuts Dividend

The company also recently declared a -- dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd were given a dividend of $0.2631 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. Grupo Financiero Galicia's dividend payout ratio is presently 3.98%.

Analysts Set New Price Targets

Several analysts have recently weighed in on GGAL shares. 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 price target on the stock. Wall Street Zen lowered Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Grupo Financiero Galicia presently has a consensus rating of "Moderate Buy" and an average target price of $61.20.

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.