Legal & General Group Plc Buys 52,309 Shares of Grupo Financiero Galicia S.A. (GGAL)

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Legal & General Group Plc boosted its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 214.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 76,715 shares of the bank’s stock after acquiring an additional 52,309 shares during the period. Legal & General Group Plc’s holdings in Grupo Financiero Galicia were worth $2,115,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. INCA Investments LLC increased its holdings in shares of Grupo Financiero Galicia by 24.4% during the 4th quarter. INCA Investments LLC now owns 2,832,701 shares of the bank’s stock worth $78,098,000 after buying an additional 556,094 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Grupo Financiero Galicia by 44.9% during the 4th quarter. BlackRock Inc. now owns 2,390,466 shares of the bank’s stock worth $65,905,000 after buying an additional 740,685 shares during the last quarter. MARSHALL WACE ASIA Ltd increased its holdings in shares of Grupo Financiero Galicia by 10.0% during the 3rd quarter. MARSHALL WACE ASIA Ltd now owns 1,090,815 shares of the bank’s stock worth $27,740,000 after buying an additional 98,950 shares during the last quarter. Odey Asset Management Group Ltd increased its holdings in shares of Grupo Financiero Galicia by 31.0% during the 4th quarter. Odey Asset Management Group Ltd now owns 669,464 shares of the bank’s stock worth $18,457,000 after buying an additional 158,519 shares during the last quarter. Finally, RWC Asset Management LLP acquired a new stake in shares of Grupo Financiero Galicia during the 4th quarter worth $15,409,000. 25.42% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ GGAL opened at $24.04 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.19 and a current ratio of 1.19. Grupo Financiero Galicia S.A. has a 12-month low of $18.30 and a 12-month high of $67.27.

GGAL has been the subject of a number of research analyst reports. BidaskClub upgraded Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a report on Saturday, January 12th. ValuEngine downgraded Grupo Financiero Galicia from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 6th. Zacks Investment Research upgraded Grupo Financiero Galicia from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Friday, January 4th. Finally, Bank of America downgraded Grupo Financiero Galicia from a “neutral” rating to an “underperform” rating in a report on Thursday, February 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $32.00.

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About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial services holding company, provides various financial products and services in Argentina. The company operates through Banking, Regional Credit Cards, Insurance, and Other Grupo Galicia Businesses segments. It offers corporate banking services to companies; credit and debit cards, loans, and financing advice to various agricultural-sector clients; foreign trade transaction services; and e-banking services.

See Also: Cost of equity and a company’s balance sheet

Want to see what other hedge funds are holding GGAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grupo Financiero Galicia S.A. (NASDAQ:GGAL).

Institutional Ownership by Quarter for Grupo Financiero Galicia (NASDAQ:GGAL)

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