RWC Asset Management LLP Acquires 583,403 Shares of Grupo Financiero Galicia S.A. $GGAL

RWC Asset Management LLP raised its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 240.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 826,175 shares of the bank’s stock after purchasing an additional 583,403 shares during the quarter. Grupo Financiero Galicia accounts for approximately 1.1% of RWC Asset Management LLP’s portfolio, making the stock its 26th largest position. RWC Asset Management LLP’s holdings in Grupo Financiero Galicia were worth $22,769,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in shares of Grupo Financiero Galicia by 149.5% in the first quarter. NewEdge Advisors LLC now owns 9,003 shares of the bank’s stock valued at $490,000 after buying an additional 5,394 shares during the last quarter. Systrade AG raised its position in shares of Grupo Financiero Galicia by 49.2% during the 2nd quarter. Systrade AG now owns 15,167 shares of the bank’s stock valued at $764,000 after acquiring an additional 5,000 shares during the last quarter. Diversified Trust Co acquired a new position in Grupo Financiero Galicia in the second quarter valued at about $413,000. ABS Direct Equity Fund LLC grew its holdings in Grupo Financiero Galicia by 33.0% during the second quarter. ABS Direct Equity Fund LLC now owns 27,648 shares of the bank’s stock valued at $1,393,000 after purchasing an additional 6,857 shares during the period. Finally, LBP AM SA increased its position in shares of Grupo Financiero Galicia by 44.7% in the 2nd quarter. LBP AM SA now owns 12,300 shares of the bank’s stock valued at $620,000 after buying an additional 3,800 shares in the last quarter.

Grupo Financiero Galicia Trading Down 2.5%

NASDAQ GGAL opened at $55.06 on Tuesday. Grupo Financiero Galicia S.A. has a 12 month low of $25.89 and a 12 month high of $72.51. The stock has a 50 day moving average of $52.76 and a 200-day moving average of $45.61. The company has a market cap of $8.12 billion, a PE ratio of 27.81 and a beta of 1.47.

Grupo Financiero Galicia Increases Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, January 5th. Stockholders of record on Monday, December 29th were paid a dividend of $0.1423 per share. The ex-dividend date was Monday, December 29th. This represents a c) annualized dividend and a dividend yield of 3.1%. This is a boost from Grupo Financiero Galicia’s previous monthly dividend of $0.14. Grupo Financiero Galicia’s dividend payout ratio (DPR) is presently 86.36%.

Analyst Ratings Changes

GGAL has been the topic of several recent analyst reports. Zacks Research upgraded Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Wall Street Zen downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. upgraded shares of Grupo Financiero Galicia from a “neutral” rating to an “overweight” rating and upped their price target for the company from $46.00 to $75.00 in a report on Tuesday, October 28th. The Goldman Sachs Group upgraded Grupo Financiero Galicia to a “hold” rating in a report on Monday, November 10th. Finally, HSBC began coverage on Grupo Financiero Galicia in a research note on Wednesday, October 1st. They issued a “buy” rating and a $60.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Grupo Financiero Galicia currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.25.

Grupo Financiero Galicia 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.