Swiss National Bank Acquires New Stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

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Swiss National Bank acquired a new stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 183,803 shares of the bank’s stock, valued at approximately $6,525,000. Swiss National Bank owned 0.13% of Grupo Financiero Galicia as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in Grupo Financiero Galicia by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 43,422 shares of the bank’s stock valued at $1,197,000 after buying an additional 430 shares during the period. Bank of America Corp DE grew its holdings in Grupo Financiero Galicia by 60.2% in the 4th quarter. Bank of America Corp DE now owns 6,665 shares of the bank’s stock valued at $184,000 after buying an additional 2,504 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Grupo Financiero Galicia by 30.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 103,812 shares of the bank’s stock valued at $2,649,000 after buying an additional 24,112 shares during the period. Candriam Luxembourg S.C.A. grew its holdings in Grupo Financiero Galicia by 59.3% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 333,000 shares of the bank’s stock valued at $8,499,000 after buying an additional 124,000 shares during the period. Finally, TD Asset Management Inc. grew its holdings in Grupo Financiero Galicia by 48.2% in the 1st quarter. TD Asset Management Inc. now owns 34,057 shares of the bank’s stock valued at $869,000 after buying an additional 11,080 shares during the period. Institutional investors and hedge funds own 28.41% of the company’s stock.

A number of analysts have recently issued reports on GGAL shares. Zacks Investment Research upgraded Grupo Financiero Galicia from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, July 3rd. BidaskClub cut Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Credit Suisse Group cut Grupo Financiero Galicia from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $45.00 to $22.00 in a report on Tuesday, August 13th. ValuEngine cut Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Monday, July 22nd. Finally, Scotiabank started coverage on Grupo Financiero Galicia in a report on Wednesday, August 7th. They set an “underperform” rating and a $27.00 target price for the company. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Grupo Financiero Galicia currently has a consensus rating of “Hold” and an average price target of $27.25.

NASDAQ GGAL opened at $12.87 on Wednesday. The stock has a market cap of $2.10 billion, a PE ratio of 3.58 and a beta of 0.85. Grupo Financiero Galicia S.A. has a fifty-two week low of $12.82 and a fifty-two week high of $39.22. The business has a 50 day moving average price of $29.67 and a two-hundred day moving average price of $28.74. The company has a quick ratio of 1.05, a current ratio of 0.93 and a debt-to-equity ratio of 0.77.

Grupo Financiero Galicia Company Profile

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.

Further Reading: Recession

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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