Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Stock Position Trimmed by INCA Investments LLC

INCA Investments LLC cut its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 20.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,098,490 shares of the bank's stock after selling 275,086 shares during the period. Grupo Financiero Galicia comprises about 27.4% of INCA Investments LLC's holdings, making the stock its largest position. INCA Investments LLC owned 0.74% of Grupo Financiero Galicia worth $59,835,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vontobel Holding Ltd. purchased a new position in shares of Grupo Financiero Galicia during the first quarter worth about $225,000. Harbour Capital Advisors LLC grew its holdings in shares of Grupo Financiero Galicia by 199.0% during the first quarter. Harbour Capital Advisors LLC now owns 18,525 shares of the bank's stock worth $993,000 after purchasing an additional 12,330 shares during the last quarter. Deltec Asset Management LLC grew its holdings in shares of Grupo Financiero Galicia by 62.1% during the first quarter. Deltec Asset Management LLC now owns 6,810 shares of the bank's stock worth $371,000 after purchasing an additional 2,610 shares during the last quarter. Insigneo Advisory Services LLC grew its holdings in shares of Grupo Financiero Galicia by 53.4% during the first quarter. Insigneo Advisory Services LLC now owns 19,096 shares of the bank's stock worth $1,040,000 after purchasing an additional 6,647 shares during the last quarter. Finally, ABS Direct Equity Fund LLC grew its holdings in shares of Grupo Financiero Galicia by 95.4% during the first quarter. ABS Direct Equity Fund LLC now owns 20,791 shares of the bank's stock worth $1,132,000 after purchasing an additional 10,152 shares during the last quarter.

Analyst Ratings Changes

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

Grupo Financiero Galicia Stock Performance

Shares of NASDAQ GGAL traded up $0.34 during midday trading on Friday, reaching $50.72. 461,282 shares of the company were exchanged, compared to its average volume of 1,147,911. 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 S.A. has a 1 year low of $23.53 and a 1 year high of $74.00. The stock has a fifty day simple moving average of $57.06 and a 200 day simple moving average of $59.64. The stock has a market cap of $7.48 billion, a P/E ratio of 7.47 and a beta of 1.64.

Grupo Financiero Galicia Cuts Dividend

The business also recently declared 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 dividend payout ratio is currently 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.