Carrhae Capital LLP Increases Stake in Grupo Financiero Galicia S.A. $GGAL

Carrhae Capital LLP raised its stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 151.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 795,204 shares of the bank’s stock after purchasing an additional 479,504 shares during the period. Grupo Financiero Galicia accounts for 1.6% of Carrhae Capital LLP’s portfolio, making the stock its 20th largest position. Carrhae Capital LLP’s holdings in Grupo Financiero Galicia were worth $42,893,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. increased its holdings in shares of Grupo Financiero Galicia by 131.6% during the 3rd quarter. Hantz Financial Services Inc. now owns 938 shares of the bank’s stock worth $26,000 after buying an additional 533 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Grupo Financiero Galicia by 4,942.9% during the third quarter. Caitong International Asset Management Co. Ltd now owns 2,118 shares of the bank’s stock worth $58,000 after acquiring an additional 2,076 shares during the last quarter. Acuitas Investments LLC purchased a new position in shares of Grupo Financiero Galicia in the 3rd quarter worth about $110,000. Raymond James Financial Inc. acquired a new position in shares of Grupo Financiero Galicia in the 2nd quarter valued at about $151,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Grupo Financiero Galicia during the 3rd quarter worth about $165,000.

Grupo Financiero Galicia Trading Down 1.0%

Shares of GGAL opened at $43.55 on Friday. Grupo Financiero Galicia S.A. has a one year low of $25.89 and a one year high of $63.75. The stock has a 50-day moving average price of $44.35 and a 200 day moving average price of $48.84. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.16 and a current ratio of 1.13. The company has a market capitalization of $7.00 billion, a P/E ratio of 21.99, a P/E/G ratio of 0.31 and a beta of 1.27.

Grupo Financiero Galicia (NASDAQ:GGAL) last announced its earnings results on Wednesday, May 13th. The bank reported $0.30 earnings per share (EPS) for the quarter. Grupo Financiero Galicia had a return on equity of 18.96% and a net margin of 7.13%.The company had revenue of $1.53 billion for the quarter. Sell-side analysts forecast that Grupo Financiero Galicia S.A. will post 3.69 EPS for the current fiscal year.

Grupo Financiero Galicia Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, May 11th. Shareholders of record on Monday, May 4th were issued a dividend of $0.6229 per share. This represents a c) annualized dividend and a yield of 17.2%. The ex-dividend date of this dividend was Monday, May 4th. Grupo Financiero Galicia’s dividend payout ratio (DPR) is currently 347.47%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research report on Friday, March 27th. Wall Street Zen cut shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research report on Saturday. JPMorgan Chase & Co. lowered their price target on Grupo Financiero Galicia from $75.00 to $72.00 and set an “overweight” rating for the company in a report on Thursday, February 19th. Finally, Zacks Research raised Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $64.00.

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.