Jump Financial LLC Cuts Stake in Grupo Financiero Galicia S.A. $GGAL

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 lowered its position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 32.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Grupo Financiero Galicia by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank's stock worth $165,000 after buying an additional 304 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Grupo Financiero Galicia by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 30,890 shares of the bank's stock worth $1,683,000 after buying an additional 483 shares in the last quarter. Advisors Preferred LLC grew its stake in Grupo Financiero Galicia by 272.2% in the 1st quarter. Advisors Preferred LLC now owns 1,098 shares of the bank's stock worth $61,000 after buying an additional 803 shares in the last quarter. Blume Capital Management Inc. purchased a new position in Grupo Financiero Galicia in the 1st quarter worth approximately $55,000. Finally, Triasima Portfolio Management inc. grew its stake in Grupo Financiero Galicia by 16.0% in the 1st quarter. Triasima Portfolio Management inc. now owns 7,320 shares of the bank's stock worth $399,000 after buying an additional 1,010 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GGAL. Wall Street Zen lowered shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Zacks Research lowered shares of Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a report on Thursday. Finally, Itau BBA Securities assumed coverage on shares of Grupo Financiero Galicia in a report on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Grupo Financiero Galicia currently has a consensus rating of "Moderate Buy" and an average price target of $72.00.

Grupo Financiero Galicia Stock Down 1.3%

GGAL stock traded down $0.51 during trading on Friday, hitting $39.28. 1,324,142 shares of the stock traded hands, compared to its average volume of 1,696,893. Grupo Financiero Galicia S.A. has a 1 year low of $34.76 and a 1 year high of $74.00. The firm's 50 day moving average is $48.77 and its two-hundred day moving average is $54.54. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 5.78 and a beta of 1.60. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16.

Grupo Financiero Galicia Cuts Dividend

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

About Grupo Financiero Galicia

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.