Ramirez Asset Management Inc. Takes Position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Key Points

• Ramirez Asset Management Inc. recently invested approximately $1.34 million in Grupo Financiero Galicia, purchasing 24,647 shares during the first quarter.
• Grupo Financiero Galicia's stock has received mixed ratings, with one analyst downgrading it to a "sell" while five analysts maintain a "buy" rating, resulting in a consensus rating of "Moderate Buy."
• The company announced a dividend payout of $0.1515 per share, which will be distributed on August 5th, with a current dividend payout ratio of 3.98%.

Ramirez Asset Management Inc. purchased a new stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 24,647 shares of the bank's stock, valued at approximately $1,343,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vontobel Holding Ltd. bought a new stake in shares of Grupo Financiero Galicia in the first quarter valued at about $225,000. BTG Pactual Asset Management US LLC bought a new stake in shares of Grupo Financiero Galicia in the fourth quarter valued at about $315,000. Whittier Trust Co. bought a new stake in shares of Grupo Financiero Galicia in the first quarter valued at about $675,000. Jump Financial LLC lifted its stake in shares of Grupo Financiero Galicia by 15.2% in the fourth quarter. Jump Financial LLC now owns 186,400 shares of the bank's stock valued at $11,616,000 after buying an additional 24,564 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Grupo Financiero Galicia by 86.4% in the fourth quarter. Bank of America Corp DE now owns 28,861 shares of the bank's stock valued at $1,799,000 after buying an additional 13,374 shares during the period.

Analyst Ratings Changes

A number of research analysts have commented on GGAL shares. Wall Street Zen cut 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 Grupo Financiero Galicia in a report on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 target price on the stock. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $61.20.

Grupo Financiero Galicia Trading Down 2.5%

Shares of NASDAQ GGAL traded down $1.26 during midday trading on Friday, reaching $49.21. 755,869 shares of the stock were exchanged, compared to its average volume of 1,275,980. The business has a 50-day simple moving average of $52.88 and a two-hundred day simple moving average of $57.53. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 7.25 and a beta of 1.64. Grupo Financiero Galicia S.A. has a 12 month low of $23.53 and a 12 month 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.

Grupo Financiero Galicia Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Tuesday, August 5th. Investors of record on Tuesday, July 29th will be given a $0.1515 dividend. The ex-dividend date of this dividend is Tuesday, July 29th. Grupo Financiero Galicia's payout ratio is currently 16.94%.

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.