Ramirez Asset Management Inc. Raises Stock Position in Grupo Financiero Galicia S.A. $GGAL

Key Points

• Ramirez Asset Management boosted its stake in Grupo Financiero Galicia by 61.1% in Q3, now holding 78,641 shares (≈0.05% of the company) valued at about $2.17 million.
• Grupo Financiero Galicia raised its monthly dividend to $0.1541 (payable Mar 9; record/ex-dividend Mar 2), implying roughly a 4.4% yield and a high payout ratio of 93.43%.
• Analyst coverage is mixed with an average rating of Hold and a $65.50 target; the stock recently traded down ~3.4% and has a market cap of $6.16 billion and a P/E of 21.08.

Ramirez Asset Management Inc. lifted its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 61.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,641 shares of the bank's stock after buying an additional 29,823 shares during the period. Ramirez Asset Management Inc. owned approximately 0.05% of Grupo Financiero Galicia worth $2,167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cetera Investment Advisers lifted its position in Grupo Financiero Galicia by 1.9% in the second quarter. Cetera Investment Advisers now owns 11,824 shares of the bank's stock valued at $596,000 after acquiring an additional 226 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Grupo Financiero Galicia by 0.7% during the second quarter. Geode Capital Management LLC now owns 54,525 shares of the bank's stock worth $2,748,000 after purchasing an additional 362 shares during the last quarter. Rokos Capital Management LLP increased its position in shares of Grupo Financiero Galicia by 0.4% during the second quarter. Rokos Capital Management LLP now owns 110,167 shares of the bank's stock worth $5,549,000 after purchasing an additional 408 shares in the last quarter. Hantz Financial Services Inc. increased its position in shares of Grupo Financiero Galicia by 131.6% during the third quarter. Hantz Financial Services Inc. now owns 938 shares of the bank's stock worth $26,000 after purchasing an additional 533 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Grupo Financiero Galicia by 240.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank's stock valued at $61,000 after purchasing an additional 849 shares during the last quarter.

Grupo Financiero Galicia Stock Down 3.4%

NASDAQ GGAL opened at $41.74 on Friday. The firm has a market cap of $6.16 billion, a P/E ratio of 21.08 and a beta of 1.48. Grupo Financiero Galicia S.A. has a 52-week low of $25.89 and a 52-week high of $66.24. The business's 50-day moving average price is $50.75 and its 200 day moving average price is $45.61.

Grupo Financiero Galicia Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, March 9th. Shareholders of record on Monday, March 2nd will be paid a $0.1541 dividend. This is an increase from Grupo Financiero Galicia's previous monthly dividend of $0.15. The ex-dividend date is Monday, March 2nd. This represents a c) annualized dividend and a dividend yield of 4.4%. Grupo Financiero Galicia's dividend payout ratio (DPR) is 93.43%.

Wall Street Analyst Weigh In

GGAL has been the subject of a number of research analyst reports. Wall Street Zen cut Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Grupo Financiero Galicia in a research note on Monday, December 29th. Zacks Research downgraded Grupo Financiero Galicia from a "hold" rating to a "strong sell" rating in a report on Monday, February 9th. The Goldman Sachs Group upgraded shares of Grupo Financiero Galicia to a "hold" rating in a research report on Monday, November 10th. Finally, UBS Group started coverage on shares of Grupo Financiero Galicia in a report on Wednesday, November 19th. They issued a "hold" rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Grupo Financiero Galicia currently has an average rating of "Hold" and an average target price of $65.50.

Grupo Financiero Galicia Company Profile

Grupo Financiero Galicia is a diversified financial services holding company headquartered in Buenos Aires, Argentina. As one of the country's largest private-sector financial institutions, the company provides a comprehensive suite of banking, insurance and investment products to individual, small-to-medium enterprise (SME) and corporate clients. Its operations span retail and commercial banking, asset management, leasing, factoring and pension fund administration.

The core banking segment offers deposit and lending services, credit and debit cards, payment solutions and digital banking platforms.

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