Ping Capital Management Inc. Sells 417,941 Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Ping Capital Management Inc. lessened its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 52.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 381,159 shares of the bank's stock after selling 417,941 shares during the quarter. Grupo Financiero Galicia makes up about 7.7% of Ping Capital Management Inc.'s investment portfolio, making the stock its 3rd biggest position. Ping Capital Management Inc. owned 0.26% of Grupo Financiero Galicia worth $20,762,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GGAL. CIBC Private Wealth Group LLC acquired a new stake in Grupo Financiero Galicia in the 4th quarter valued at $34,000. Compass Group LLC acquired a new stake in shares of Grupo Financiero Galicia during the fourth quarter valued at about $67,000. GeoWealth Management LLC acquired a new stake in shares of Grupo Financiero Galicia during the fourth quarter valued at about $71,000. Wallace Advisory Group LLC acquired a new stake in shares of Grupo Financiero Galicia during the first quarter valued at about $182,000. Finally, Mirabella Financial Services LLP bought a new position in shares of Grupo Financiero Galicia during the fourth quarter worth about $217,000.

Grupo Financiero Galicia Stock Performance

Shares of GGAL traded down $0.08 during mid-day trading on Monday, reaching $47.14. 231,425 shares of the company's stock traded hands, compared to its average volume of 1,171,871. The business's 50-day moving average price is $54.82 and its 200-day moving average price is $58.51. The stock has a market capitalization of $6.95 billion, a P/E ratio of 6.95 and a beta of 1.64. 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 12 month low of $23.53 and a 12 month high of $74.00.

Grupo Financiero Galicia Cuts Dividend

The business also recently disclosed a -- dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, June 3rd were paid a dividend of $0.2631 per share. The ex-dividend date was Tuesday, June 3rd. Grupo Financiero Galicia's dividend payout ratio is presently 3.98%.

Analyst Ratings Changes

Several equities analysts have recently commented on GGAL shares. Itau BBA Securities started coverage on shares of Grupo Financiero Galicia in a research report on Tuesday, May 20th. They set an "outperform" rating and a $70.00 price target on the stock. Wall Street Zen cut shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $61.20.

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.