Grupo Financiero Galicia S.A. $GGAL Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lowered its stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 47.2% during the fourth quarter, Holdings Channel reports. The firm owned 493,044 shares of the bank’s stock after selling 440,489 shares during the period. Verition Fund Management LLC’s holdings in Grupo Financiero Galicia were worth $26,595,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC boosted its holdings in shares of Grupo Financiero Galicia by 149.5% in the 1st 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 in the last quarter. Geode Capital Management LLC raised its stake in Grupo Financiero Galicia by 0.7% during the 2nd 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. 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. JPMorgan Chase & Co. boosted its stake in Grupo Financiero Galicia by 93.2% in the second quarter. JPMorgan Chase & Co. now owns 75,302 shares of the bank’s stock valued at $3,794,000 after acquiring an additional 36,326 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Grupo Financiero Galicia in the second quarter valued at $5,299,000.

Grupo Financiero Galicia Stock Performance

NASDAQ:GGAL opened at $55.16 on Monday. Grupo Financiero Galicia S.A. has a 12-month low of $25.89 and a 12-month high of $62.51. The company has a current ratio of 1.13, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32. The stock’s 50 day simple moving average is $46.08 and its 200-day simple moving average is $48.36. The firm has a market cap of $8.86 billion, a P/E ratio of 24.30, a PEG ratio of 0.38 and a beta of 1.32.

Grupo Financiero Galicia (NASDAQ:GGAL) last issued its quarterly earnings results on Tuesday, May 26th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.07). Grupo Financiero Galicia had a return on equity of 18.96% and a net margin of 7.13%.The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.70 billion. Equities analysts anticipate that Grupo Financiero Galicia S.A. will post 3.69 EPS for the current year.

Grupo Financiero Galicia Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were given a dividend of $0.6229 per share. The ex-dividend date was Monday, May 4th. This represents a c) dividend on an annualized basis and a yield of 13.6%. Grupo Financiero Galicia’s dividend payout ratio is presently 213.66%.

Wall Street Analysts Forecast Growth

GGAL has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Friday, March 27th. Wall Street Zen cut Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Zacks Research raised Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. reduced their price objective on Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $64.00.

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.