Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Shares Sold by Ping Capital Management Inc.

Ping Capital Management Inc. cut its position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 52.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 381,159 shares of the bank's stock after selling 417,941 shares during the quarter. Grupo Financiero Galicia comprises about 7.7% of Ping Capital Management Inc.'s portfolio, making the stock its 3rd biggest holding. Ping Capital Management Inc. owned approximately 0.26% of Grupo Financiero Galicia worth $20,762,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CIBC Private Wealth Group LLC acquired a new position in Grupo Financiero Galicia in the 4th quarter valued at $34,000. Compass Group LLC acquired a new position in Grupo Financiero Galicia in the 4th quarter valued at $67,000. GeoWealth Management LLC acquired a new position in Grupo Financiero Galicia in the 4th quarter valued at $71,000. Wallace Advisory Group LLC acquired a new position in Grupo Financiero Galicia in the 1st quarter valued at $182,000. Finally, Mirabella Financial Services LLP acquired a new position in Grupo Financiero Galicia in the 4th quarter valued at $217,000.

Grupo Financiero Galicia Price Performance

Shares of Grupo Financiero Galicia stock traded down $0.49 during trading on Friday, reaching $47.22. 870,961 shares of the company's stock were exchanged, compared to its average volume of 1,174,693. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16. Grupo Financiero Galicia S.A. has a 1-year low of $23.53 and a 1-year high of $74.00. The company has a market cap of $6.96 billion, a P/E ratio of 6.95 and a beta of 1.64. The firm's 50-day moving average price is $54.82 and its 200 day moving average price is $58.60.

Grupo Financiero Galicia Cuts Dividend

The firm also recently declared a -- dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $0.2631 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. Grupo Financiero Galicia's dividend payout ratio (DPR) is currently 3.98%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Itau BBA Securities assumed coverage on Grupo Financiero Galicia in a report on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 price objective for the company. Wall Street Zen cut Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $61.20.

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.