Monaco Asset Management SAM Makes New Investment in Grupo Financiero Galicia S.A. $GGAL

Monaco Asset Management SAM purchased a new stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 15,000 shares of the bank’s stock, valued at approximately $413,000.

Several other hedge funds have also made changes to their positions in GGAL. NewEdge Advisors LLC grew its position 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 purchasing an additional 5,394 shares during the period. Whittier Trust Co. grew its holdings in Grupo Financiero Galicia by 11.6% in the 2nd quarter. Whittier Trust Co. now owns 13,842 shares of the bank’s stock valued at $697,000 after buying an additional 1,442 shares during the period. AdvisorShares Investments LLC grew its holdings in Grupo Financiero Galicia by 16.6% in the 2nd quarter. AdvisorShares Investments LLC now owns 37,253 shares of the bank’s stock valued at $1,877,000 after buying an additional 5,317 shares during the period. AGF Management Ltd. acquired a new position in shares of Grupo Financiero Galicia during the 2nd quarter valued at about $12,662,000. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Grupo Financiero Galicia by 240.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,202 shares of the bank’s stock worth $61,000 after acquiring an additional 849 shares during the period.

Grupo Financiero Galicia Trading Up 4.2%

Shares of GGAL stock opened at $49.64 on Friday. The company has a market cap of $7.32 billion, a PE ratio of 25.07 and a beta of 1.44. The company’s fifty day simple moving average is $52.25 and its 200-day simple moving average is $45.99. Grupo Financiero Galicia S.A. has a 52 week low of $25.89 and a 52 week high of $66.24.

Grupo Financiero Galicia Increases Dividend

The business also recently announced a monthly dividend, which was paid on Monday, February 9th. Stockholders of record on Monday, February 2nd were paid a $0.1455 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.5%. This is an increase from Grupo Financiero Galicia’s previous monthly dividend of $0.14. The ex-dividend date was Monday, February 2nd. Grupo Financiero Galicia’s payout ratio is 88.38%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group upgraded shares of Grupo Financiero Galicia to a “hold” rating in a report on Monday, November 10th. JPMorgan Chase & Co. lowered their price objective on shares of Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating for the company in a research note on Thursday. Wall Street Zen lowered Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Saturday, February 7th. UBS Group began coverage on Grupo Financiero Galicia in a report on Wednesday, November 19th. They issued a “hold” rating and a $60.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Grupo Financiero Galicia has a consensus rating of “Hold” and an average target price of $65.50.

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.