Grupo Financiero Galicia S.A. $GGAL Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP lifted its stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 1,271.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,195 shares of the bank’s stock after purchasing an additional 27,066 shares during the period. Quantbot Technologies LP’s holdings in Grupo Financiero Galicia were worth $805,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. NewEdge Advisors LLC increased its stake in Grupo Financiero Galicia by 149.5% in the 1st quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock worth $490,000 after purchasing an additional 5,394 shares in the last quarter. AGF Management Ltd. purchased a new stake in Grupo Financiero Galicia during the second quarter valued at about $12,662,000. SBI Securities Co. Ltd. boosted its holdings in shares of Grupo Financiero Galicia by 240.5% in the second quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock worth $61,000 after buying an additional 849 shares during the period. Geode Capital Management LLC increased its position in shares of Grupo Financiero Galicia by 0.7% in the second quarter. Geode Capital Management LLC now owns 54,525 shares of the bank’s stock worth $2,748,000 after acquiring an additional 362 shares in the last quarter. Finally, Fiera Capital Corp acquired a new stake in shares of Grupo Financiero Galicia during the second quarter valued at approximately $5,555,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GGAL shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Monday, December 29th. The Goldman Sachs Group upgraded Grupo Financiero Galicia to a “hold” rating in a report on Monday, November 10th. UBS Group assumed coverage on Grupo Financiero Galicia in a research report on Wednesday, November 19th. They issued a “hold” rating and a $60.00 target price for the company. Wall Street Zen downgraded Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Finally, JPMorgan Chase & Co. dropped their price target on Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating on the stock in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $65.50.

Grupo Financiero Galicia Stock Performance

GGAL stock opened at $41.74 on Friday. The firm has a 50 day simple moving average of $50.75 and a 200 day simple moving average of $45.60. Grupo Financiero Galicia S.A. has a 52 week low of $25.89 and a 52 week high of $66.24. The stock has a market cap of $6.16 billion, a P/E ratio of 21.08 and a beta of 1.48.

Grupo Financiero Galicia Increases Dividend

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

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.