PointState Capital LP Purchases 926,820 Shares of Grupo Financiero Galicia S.A. $GGAL

Key Points

• PointState Capital LP increased its holdings in Grupo Financiero Galicia S.A. by 160.5%, now owning approximately 1.02% of the company valued at about $81.93 million.
• Despite significant investments from firms like Northern Trust Corp and Bank of America Corp DE, analysts have downgraded the stock's rating, with Wall Street Zen changing it from "hold" to "sell".
• Grupo Financiero Galicia recently declared a special dividend of $0.1504 per share, reflecting a dividend payout ratio of 8.39%.

PointState Capital LP boosted its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 160.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,504,157 shares of the bank's stock after acquiring an additional 926,820 shares during the quarter. Grupo Financiero Galicia accounts for about 1.2% of PointState Capital LP's investment portfolio, making the stock its 24th largest position. PointState Capital LP owned 1.02% of Grupo Financiero Galicia worth $81,931,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hsbc Holdings PLC boosted its holdings in shares of Grupo Financiero Galicia by 3.1% in the 1st 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Grupo Financiero Galicia by 4.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,272,932 shares of the bank's stock worth $69,337,000 after purchasing an additional 49,994 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Grupo Financiero Galicia by 0.4% in the 4th quarter. Two Sigma Investments LP now owns 471,443 shares of the bank's stock worth $29,380,000 after purchasing an additional 1,917 shares in the last quarter. Itau Unibanco Holding S.A. boosted its holdings in shares of Grupo Financiero Galicia by 112.3% in the 1st quarter. Itau Unibanco Holding S.A. now owns 469,272 shares of the bank's stock worth $24,624,000 after purchasing an additional 248,268 shares in the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of Grupo Financiero Galicia in the 4th quarter worth about $24,089,000.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GGAL shares. Itau BBA Securities started 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. Citigroup cut Grupo Financiero Galicia from a "buy" rating to a "neutral" rating in a report on Wednesday. Wall Street Zen cut Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a report on Saturday, September 6th. Finally, Zacks Research cut Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a report on Thursday, August 28th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $81.00.

Grupo Financiero Galicia Trading Down 1.7%

NASDAQ GGAL traded down $0.56 on Thursday, hitting $31.51. The company's stock had a trading volume of 1,709,223 shares, compared to its average volume of 1,458,666. Grupo Financiero Galicia S.A. has a 52-week low of $29.23 and a 52-week 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. The company's 50-day simple moving average is $46.39 and its 200 day simple moving average is $53.30. The firm has a market cap of $4.65 billion, a P/E ratio of 4.64 and a beta of 1.71.

Grupo Financiero Galicia Cuts Dividend

The company also recently announced a special dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 29th were given a $0.1504 dividend. The ex-dividend date of this dividend was Friday, August 29th. Grupo Financiero Galicia's dividend payout ratio is currently 8.39%.

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.