Jennison Associates LLC Sells 163,607 Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Jennison Associates LLC trimmed its position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 13.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,085,329 shares of the bank's stock after selling 163,607 shares during the period. Jennison Associates LLC owned about 0.74% of Grupo Financiero Galicia worth $59,118,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vontobel Holding Ltd. purchased a new position in shares of Grupo Financiero Galicia during the first quarter worth approximately $225,000. BTG Pactual Asset Management US LLC purchased a new position in shares of Grupo Financiero Galicia during the fourth quarter worth approximately $315,000. Whittier Trust Co. purchased a new position in shares of Grupo Financiero Galicia during the first quarter worth approximately $675,000. Jump Financial LLC grew its position in shares of Grupo Financiero Galicia by 15.2% during the fourth quarter. Jump Financial LLC now owns 186,400 shares of the bank's stock worth $11,616,000 after acquiring an additional 24,564 shares during the last quarter. Finally, Sei Investments Co. purchased a new position in shares of Grupo Financiero Galicia during the fourth quarter worth approximately $15,446,000.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen cut 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 research report on Tuesday, May 20th. They set an "outperform" rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Grupo Financiero Galicia has a consensus rating of "Moderate Buy" and an average price target of $61.20.

Grupo Financiero Galicia Stock Performance

GGAL traded up $0.73 during trading on Tuesday, reaching $47.81. 1,375,300 shares of the company were exchanged, compared to its average volume of 1,179,093. The stock has a market cap of $7.05 billion, a P/E ratio of 7.04 and a beta of 1.64. The firm has a 50 day moving average of $54.53 and a 200 day moving average of $58.35. 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 52 week low of $23.53 and a 52 week high of $74.00.

Grupo Financiero Galicia Cuts Dividend

The business also recently announced a -- dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Tuesday, July 29th will be issued a dividend of $0.1515 per share. The ex-dividend date is Tuesday, July 29th. Grupo Financiero Galicia's dividend payout ratio is 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.