Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Shares Sold by RWC Asset Management LLP

Key Points

• RWC Asset Management LLP reduced its stake in Grupo Financiero Galicia S.A. by 58.1%, selling 61,398 shares and holding 44,335 shares worth approximately $2.4 million at the end of the quarter.
• Grupo Financiero Galicia's stock has been given a consensus rating of "Moderate Buy" by analysts, with a price target averaging $61.20, although Wall Street Zen recently downgraded it from "hold" to "sell."
• The company recently declared a dividend of $0.1515 per share, set to be paid on August 5th, 2023, with a dividend payout ratio of 16.79%.

RWC Asset Management LLP reduced its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 58.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 44,335 shares of the bank's stock after selling 61,398 shares during the quarter. RWC Asset Management LLP's holdings in Grupo Financiero Galicia were worth $2,415,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its position in Grupo Financiero Galicia by 11.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,102 shares of the bank's stock valued at $380,000 after purchasing an additional 618 shares during the last quarter. Sei Investments Co. bought a new stake in Grupo Financiero Galicia in the 4th quarter valued at about $15,446,000. Arrowstreet Capital Limited Partnership lifted its position in Grupo Financiero Galicia by 3.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,050,575 shares of the bank's stock valued at $65,472,000 after purchasing an additional 30,980 shares during the last quarter. Schroder Investment Management Group lifted its position in Grupo Financiero Galicia by 9.7% in the 4th quarter. Schroder Investment Management Group now owns 58,384 shares of the bank's stock valued at $3,638,000 after purchasing an additional 5,179 shares during the last quarter. Finally, CIBC Private Wealth Group LLC bought a new stake in Grupo Financiero Galicia in the 4th quarter valued at about $34,000.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GGAL. Itau BBA Securities began coverage on shares of Grupo Financiero Galicia in a research report on Tuesday, May 20th. They issued an "outperform" rating and a $70.00 price objective on the stock. Wall Street Zen downgraded shares of Grupo Financiero Galicia from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $61.20.

Grupo Financiero Galicia Price Performance

Grupo Financiero Galicia stock traded down $1.39 during trading hours on Thursday, hitting $50.65. 495,897 shares of the company traded hands, compared to its average volume of 1,277,300. The firm has a market cap of $7.47 billion, a P/E ratio of 7.45 and a beta of 1.64. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm's 50-day simple moving average is $52.88 and its two-hundred day simple moving average is $57.53. Grupo Financiero Galicia S.A. has a 1-year low of $23.53 and a 1-year high of $74.00.

Grupo Financiero Galicia Cuts Dividend

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

About Grupo Financiero Galicia

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.