RWC Asset Advisors US LLC Acquires 177,574 Shares of Grupo Financiero Galicia S.A. $GGAL

RWC Asset Advisors US LLC increased its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 52.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 517,540 shares of the bank’s stock after purchasing an additional 177,574 shares during the period. Grupo Financiero Galicia makes up 5.8% of RWC Asset Advisors US LLC’s holdings, making the stock its 7th biggest position. RWC Asset Advisors US LLC owned approximately 0.32% of Grupo Financiero Galicia worth $25,893,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GGAL. Rockefeller Capital Management L.P. purchased a new position in shares of Grupo Financiero Galicia during the 4th quarter valued at about $39,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Grupo Financiero Galicia by 4,942.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock worth $58,000 after buying an additional 2,076 shares during the last quarter. State of Wyoming purchased a new stake in shares of Grupo Financiero Galicia in the fourth quarter worth about $74,000. Leonteq Securities AG grew its holdings in Grupo Financiero Galicia by 563.2% during the first quarter. Leonteq Securities AG now owns 2,036 shares of the bank’s stock worth $95,000 after acquiring an additional 1,729 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Grupo Financiero Galicia during the second quarter worth about $151,000.

Grupo Financiero Galicia Stock Performance

Shares of GGAL stock opened at $44.36 on Tuesday. The stock’s fifty day moving average is $47.45 and its two-hundred day moving average is $46.78. The firm has a market capitalization of $7.13 billion, a P/E ratio of 18.11, a PEG ratio of 0.23 and a beta of 1.28. Grupo Financiero Galicia S.A. has a fifty-two week low of $25.89 and a fifty-two week high of $62.51.

Grupo Financiero Galicia (NASDAQ:GGAL) last released its earnings results on Tuesday, August 25th. The bank reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.16. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.70 billion. On average, equities analysts forecast that Grupo Financiero Galicia S.A. will post 3.94 earnings per share for the current year.

Grupo Financiero Galicia Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were paid a dividend of $0.0531 per share. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Monday, August 24th. Grupo Financiero Galicia’s dividend payout ratio is currently 23.67%.

Analysts Set New Price Targets

Several research firms recently issued reports on GGAL. Wall Street Zen upgraded shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Saturday, June 27th. Itau BBA Securities lowered shares of Grupo Financiero Galicia from an “outperform” rating to a “market perform” rating in a research report on Thursday, September 3rd. Zacks Research raised shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a report on Thursday, May 14th. Weiss Ratings downgraded shares of Grupo Financiero Galicia from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of Grupo Financiero Galicia from $72.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $68.33.

Insider Transactions at Grupo Financiero Galicia

In other Grupo Financiero Galicia news, Director Silvestre Moret acquired 224,000 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was bought at an average price of $5.36 per share, for a total transaction of $1,200,640.00. Following the acquisition, the director owned 3,000,000 shares in the company, valued at approximately $16,080,000. The trade was a 8.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have bought 802,791 shares of company stock worth $4,253,109.

About Grupo Financiero Galicia

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.