Handelsbanken Fonder AB Grows Stock Holdings in Grupo Financiero Galicia S.A. $GGAL

Handelsbanken Fonder AB grew its position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 45.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 67,479 shares of the bank’s stock after buying an additional 21,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Grupo Financiero Galicia were worth $1,860,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GGAL. RWC Asset Advisors US LLC grew its stake in shares of Grupo Financiero Galicia by 848.1% in the third quarter. RWC Asset Advisors US LLC now owns 1,540,187 shares of the bank’s stock worth $42,448,000 after purchasing an additional 1,377,735 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Grupo Financiero Galicia by 52.2% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock worth $97,629,000 after buying an additional 664,533 shares during the period. RWC Asset Management LLP grew its position in shares of Grupo Financiero Galicia by 240.3% in the 3rd quarter. RWC Asset Management LLP now owns 826,175 shares of the bank’s stock worth $22,769,000 after buying an additional 583,403 shares during the last quarter. Itau Unibanco Holding S.A. increased its stake in shares of Grupo Financiero Galicia by 90.5% during the second quarter. Itau Unibanco Holding S.A. now owns 893,965 shares of the bank’s stock valued at $45,047,000 after buying an additional 424,693 shares during the period. Finally, Banco BTG Pactual S.A. raised its holdings in shares of Grupo Financiero Galicia by 198.3% during the second quarter. Banco BTG Pactual S.A. now owns 487,916 shares of the bank’s stock valued at $24,586,000 after acquiring an additional 324,358 shares in the last quarter.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ GGAL opened at $44.03 on Thursday. Grupo Financiero Galicia S.A. has a 1 year low of $25.89 and a 1 year high of $66.24. The firm has a 50-day moving average of $51.25 and a 200 day moving average of $45.68. The stock has a market cap of $6.49 billion, a P/E ratio of 22.24 and a beta of 1.48.

Grupo Financiero Galicia Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, March 9th. Investors of record on Monday, March 2nd will be paid a $0.1541 dividend. This represents a c) annualized dividend and a dividend yield of 4.2%. The ex-dividend date is Monday, March 2nd. This is an increase from Grupo Financiero Galicia’s previous monthly dividend of $0.15. Grupo Financiero Galicia’s dividend payout ratio (DPR) is currently 93.43%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on GGAL shares. UBS Group assumed coverage on shares of Grupo Financiero Galicia in a report on Wednesday, November 19th. They issued a “hold” rating and a $60.00 price target on the stock. The Goldman Sachs Group upgraded shares of Grupo Financiero Galicia to a “hold” rating in a research 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 report on Thursday, February 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Grupo Financiero Galicia in a report on Monday, December 29th. Finally, Zacks Research lowered Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a research report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.