Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Shares Sold by INCA Investments LLC

INCA Investments LLC cut its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 20.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,098,490 shares of the bank's stock after selling 275,086 shares during the period. Grupo Financiero Galicia comprises approximately 27.4% of INCA Investments LLC's holdings, making the stock its biggest position. INCA Investments LLC owned 0.74% of Grupo Financiero Galicia worth $59,835,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GGAL. CIBC Private Wealth Group LLC bought a new position in Grupo Financiero Galicia in the 4th quarter worth about $34,000. Compass Group LLC acquired a new stake in Grupo Financiero Galicia in the 4th quarter valued at approximately $67,000. GeoWealth Management LLC acquired a new stake in Grupo Financiero Galicia in the 4th quarter valued at approximately $71,000. Wallace Advisory Group LLC bought a new stake in Grupo Financiero Galicia during the 1st quarter valued at $182,000. Finally, Mirabella Financial Services LLP acquired a new position in Grupo Financiero Galicia during the 4th quarter worth $217,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GGAL shares. 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 began 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 target on the stock. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $61.20.

Grupo Financiero Galicia Price Performance

GGAL stock traded up $0.34 during trading hours on Friday, hitting $50.72. 461,282 shares of the stock traded hands, compared to its average volume of 1,147,911. The stock has a 50-day simple moving average of $57.06 and a 200 day simple moving average of $59.65. The company has a market cap of $7.48 billion, a P/E ratio of 7.47 and a beta of 1.64. 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 current ratio of 1.16, a quick 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, June 10th. Investors of record on Tuesday, June 3rd were issued a dividend of $0.2631 per share. The ex-dividend date was Tuesday, June 3rd. Grupo Financiero Galicia's payout ratio is 3.98%.

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.