Handelsbanken Fonder AB Has $1.52 Million Stock Holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Handelsbanken Fonder AB increased its stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 46.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,979 shares of the bank's stock after acquiring an additional 8,814 shares during the quarter. Handelsbanken Fonder AB's holdings in Grupo Financiero Galicia were worth $1,524,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BTG Pactual Asset Management US LLC purchased a new position in shares of Grupo Financiero Galicia in the fourth quarter worth $315,000. Nkcfo LLC bought a new position in shares of Grupo Financiero Galicia in the fourth quarter worth about $312,000. Fourth Sail Capital LP purchased a new stake in shares of Grupo Financiero Galicia during the fourth quarter valued at about $27,369,000. William Blair Investment Management LLC raised its position in shares of Grupo Financiero Galicia by 778.9% in the 4th quarter. William Blair Investment Management LLC now owns 901,065 shares of the bank's stock valued at $56,152,000 after purchasing an additional 798,542 shares during the last quarter. Finally, Jump Financial LLC grew its stake in shares of Grupo Financiero Galicia by 15.2% during the 4th quarter. Jump Financial LLC now owns 186,400 shares of the bank's stock worth $11,616,000 after purchasing an additional 24,564 shares during the period.

Analysts Set New Price Targets

GGAL has been the subject of a number of recent analyst reports. Wall Street Zen downgraded Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Itau BBA Securities assumed coverage on Grupo Financiero Galicia in a report on Tuesday, May 20th. They set an "outperform" rating and a $70.00 target price on the stock. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $61.20.

Grupo Financiero Galicia Stock Down 2.6%

GGAL opened at $54.67 on Friday. The company has a market capitalization of $8.06 billion, a PE ratio of 8.05 and a beta of 1.72. Grupo Financiero Galicia S.A. has a one year low of $23.53 and a one year high of $74.00. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 1.11. The stock's fifty day moving average is $58.91 and its 200-day moving average is $60.52.

Grupo Financiero Galicia Cuts Dividend

The company also recently disclosed a -- dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, June 3rd were given a $0.2631 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. Grupo Financiero Galicia's dividend payout ratio is currently 3.83%.

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.

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