Grupo Financiero Galicia S.A. $GGAL Shares Sold by Jump Financial LLC

Key Points

• Jump Financial LLC reduced its stake in Grupo Financiero Galicia S.A. by 32.0%, selling 59,676 shares, and now owns approximately 0.09% of the company valued at $6.9 million.
• The stock of Grupo Financiero Galicia recently experienced a decline of 1.8% and is currently priced at $45.27, with a market cap of $6.68 billion and a P/E ratio of 6.67.
• Additionally, Grupo Financiero Galicia announced a cut in its dividend, with a payment of $0.1504 per share scheduled for September 5th, impacting the dividend payout ratio of 6.19%.

Jump Financial LLC decreased its stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 32.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 126,724 shares of the bank's stock after selling 59,676 shares during the period. Jump Financial LLC owned 0.09% of Grupo Financiero Galicia worth $6,903,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Banco BTG Pactual S.A. boosted its holdings in shares of Grupo Financiero Galicia by 62.3% during the first quarter. Banco BTG Pactual S.A. now owns 163,558 shares of the bank's stock worth $8,909,000 after purchasing an additional 62,755 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Grupo Financiero Galicia by 3.1% during the first quarter. Hsbc Holdings PLC now owns 11,851,835 shares of the bank's stock worth $644,503,000 after purchasing an additional 359,708 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Grupo Financiero Galicia by 38.6% during the first quarter. Quantbot Technologies LP now owns 21,418 shares of the bank's stock worth $1,167,000 after purchasing an additional 5,968 shares during the last quarter. Absolute Gestao de Investimentos Ltda. boosted its holdings in shares of Grupo Financiero Galicia by 63.3% during the first quarter. Absolute Gestao de Investimentos Ltda. now owns 39,500 shares of the bank's stock worth $2,152,000 after purchasing an additional 15,317 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Grupo Financiero Galicia during the first quarter worth $670,000.

Analysts Set New Price Targets

GGAL has been the topic of a number of research analyst reports. Wall Street Zen cut 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 issued an "outperform" rating and a $70.00 target price on the stock. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Grupo Financiero Galicia has a consensus rating of "Buy" and a consensus target price of $67.50.

Grupo Financiero Galicia Stock Down 0.1%

Shares of GGAL traded down $0.03 during midday trading on Thursday, reaching $39.79. 2,549,363 shares of the company were exchanged, compared to its average volume of 1,330,759. The stock has a 50-day moving average price of $49.31 and a 200-day moving average price of $54.86. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 5.86 and a beta of 1.60. Grupo Financiero Galicia S.A. has a 1-year low of $34.76 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.

Grupo Financiero Galicia Cuts Dividend

The business also recently disclosed a special dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.1504 per share. The ex-dividend date is Friday, August 29th. Grupo Financiero Galicia's payout ratio is currently 6.19%.

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.