Price T Rowe Associates Inc. MD Sells 453,920 Shares of Grupo Financiero Galicia S.A. $GGAL

Key Points

• Price T Rowe Associates Inc. reduced its stake in Grupo Financiero Galicia S.A. by 23.2%, now owning approximately 1.02% of the bank, valued at about $81.78 million.
• Grupo Financiero Galicia recently announced a dividend of $0.1504 per share, with an ex-dividend date of August 29th.
• Despite a current consensus rating of "Buy" from analysts, shares for Grupo Financiero Galicia are down 7.2%, trading at $42.00 with a 12-month high of $74.00.

Price T Rowe Associates Inc. MD decreased its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 23.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,501,260 shares of the bank's stock after selling 453,920 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.02% of Grupo Financiero Galicia worth $81,775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Grupo Financiero Galicia by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,022 shares of the bank's stock valued at $165,000 after purchasing an additional 304 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Grupo Financiero Galicia by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 30,890 shares of the bank's stock valued at $1,683,000 after purchasing an additional 483 shares during the last quarter. Advisors Preferred LLC boosted its position in Grupo Financiero Galicia by 272.2% during the first quarter. Advisors Preferred LLC now owns 1,098 shares of the bank's stock valued at $61,000 after purchasing an additional 803 shares during the last quarter. Blume Capital Management Inc. acquired a new stake in Grupo Financiero Galicia during the first quarter valued at $55,000. Finally, Triasima Portfolio Management inc. boosted its position in Grupo Financiero Galicia by 16.0% during the first quarter. Triasima Portfolio Management inc. now owns 7,320 shares of the bank's stock valued at $399,000 after purchasing an additional 1,010 shares during the last quarter.

Grupo Financiero Galicia Stock Performance

Shares of Grupo Financiero Galicia stock traded down $0.51 during trading on Friday, reaching $39.28. The company's stock had a trading volume of 1,324,142 shares, compared to its average volume of 1,330,719. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.16. The business's fifty day moving average price is $49.02 and its 200-day moving average price is $54.70. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 5.78 and a beta of 1.60. Grupo Financiero Galicia S.A. has a one year low of $34.76 and a one year high of $74.00.

Grupo Financiero Galicia Cuts Dividend

The company also recently declared a special dividend, which will be paid on Friday, September 5th. Investors 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%.

Analysts Set New Price Targets

A number of research firms recently issued reports on GGAL. Itau BBA Securities began coverage on Grupo Financiero Galicia in a research report on Tuesday, May 20th. They set 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 research report on Thursday, May 22nd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $67.50.

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.