Price T Rowe Associates Inc. MD Cuts Stock Position in 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 lowered its position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 23.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 approximately 1.02% of Grupo Financiero Galicia worth $81,775,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Blume Capital Management Inc. acquired a new stake in Grupo Financiero Galicia during the first quarter worth approximately $55,000. 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 worth $61,000 after acquiring an additional 803 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake 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 worth $165,000 after purchasing an additional 304 shares during the period. Wallace Advisory Group LLC purchased a new position in Grupo Financiero Galicia during the first quarter worth approximately $182,000. Finally, NewEdge Advisors LLC purchased a new position in Grupo Financiero Galicia during the fourth quarter worth approximately $225,000.

Grupo Financiero Galicia Trading Down 1.3%

NASDAQ:GGAL traded down $0.51 during trading hours on Friday, reaching $39.28. 1,324,142 shares of the company were exchanged, compared to its average volume of 1,705,124. The stock has a 50 day simple moving average of $48.77 and a 200 day simple moving average of $54.51. Grupo Financiero Galicia S.A. has a 52-week low of $34.76 and a 52-week high of $74.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 5.78 and a beta of 1.71.

Grupo Financiero Galicia Cuts Dividend

The firm also recently announced 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 of this dividend is Friday, August 29th. Grupo Financiero Galicia's dividend payout ratio (DPR) is currently 8.39%.

Analyst Ratings Changes

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

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.