Handelsbanken Fonder AB Increases Position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Handelsbanken Fonder AB grew its position in 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 and Exchange Commission (SEC). 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 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GGAL. CIBC Private Wealth Group LLC acquired a new stake in Grupo Financiero Galicia in the 4th quarter valued at about $34,000. Compass Group LLC acquired a new stake in shares of Grupo Financiero Galicia in the fourth quarter valued at approximately $67,000. GeoWealth Management LLC acquired a new stake in shares of Grupo Financiero Galicia in the fourth quarter valued at approximately $71,000. Empowered Funds LLC purchased a new position in Grupo Financiero Galicia during the fourth quarter worth approximately $167,000. Finally, Wallace Advisory Group LLC acquired a new position in Grupo Financiero Galicia during the first quarter worth $182,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on GGAL. Wall Street Zen downgraded 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 set an "outperform" rating and a $70.00 price objective for the company. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Grupo Financiero Galicia has a consensus rating of "Moderate Buy" and a consensus target price of $61.20.

Grupo Financiero Galicia Trading Down 0.2%

GGAL stock traded down $0.11 during midday trading on Wednesday, hitting $54.24. 719,747 shares of the company's stock were exchanged, compared to its average volume of 1,147,554. 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 current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $8.00 billion, a PE ratio of 7.98 and a beta of 1.72. The business has a 50-day simple moving average of $59.13 and a two-hundred day simple moving average of $60.49.

Grupo Financiero Galicia Cuts Dividend

The business also recently announced a -- dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $0.2631 per share. The ex-dividend date was Tuesday, June 3rd. Grupo Financiero Galicia's dividend payout ratio (DPR) is presently 3.98%.

Grupo Financiero Galicia Company 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.