Banco BTG Pactual S.A. Acquires Shares of 74,285 Grupo Financiero Galicia S.A. $GGAL

Banco BTG Pactual S.A. acquired a new stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 74,285 shares of the bank’s stock, valued at approximately $4,007,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GGAL. TT International Asset Management LTD purchased a new position in Grupo Financiero Galicia in the fourth quarter valued at $47,035,000. Aquamarine Financial Cayman Ltd increased its holdings in Grupo Financiero Galicia by 57.9% in the fourth quarter. Aquamarine Financial Cayman Ltd now owns 2,092,309 shares of the bank’s stock valued at $113,133,000 after buying an additional 767,309 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Grupo Financiero Galicia by 52.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,465 shares of the bank’s stock valued at $97,629,000 after buying an additional 664,533 shares in the last quarter. Carrhae Capital LLP increased its holdings in Grupo Financiero Galicia by 151.9% in the fourth quarter. Carrhae Capital LLP now owns 795,204 shares of the bank’s stock valued at $42,893,000 after buying an additional 479,504 shares in the last quarter. Finally, UBS Group AG increased its holdings in Grupo Financiero Galicia by 146.7% in the fourth quarter. UBS Group AG now owns 782,969 shares of the bank’s stock valued at $42,233,000 after buying an additional 465,639 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on GGAL shares. Wall Street Zen cut shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. JPMorgan Chase & Co. cut their target price 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, February 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Grupo Financiero Galicia in a research note on Friday, March 27th. Finally, Zacks Research raised shares of Grupo Financiero Galicia from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $64.00.

Grupo Financiero Galicia Stock Performance

GGAL opened at $55.41 on Friday. The firm has a market capitalization of $8.90 billion, a PE ratio of 24.41, a PEG ratio of 0.34 and a beta of 1.32. Grupo Financiero Galicia S.A. has a twelve month low of $25.89 and a twelve month high of $62.51. The firm’s 50-day moving average price is $45.91 and its 200 day moving average price is $48.30. The company has a current ratio of 1.13, a quick ratio of 1.16 and a debt-to-equity ratio of 0.32.

Grupo Financiero Galicia (NASDAQ:GGAL) last posted its quarterly earnings results on Tuesday, May 26th. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.07). The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.70 billion. Grupo Financiero Galicia had a return on equity of 18.96% and a net margin of 7.13%. As a group, sell-side analysts expect that Grupo Financiero Galicia S.A. will post 3.69 EPS for the current fiscal year.

Grupo Financiero Galicia Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Monday, May 11th. Investors of record on Monday, May 4th were given a dividend of $0.6229 per share. The ex-dividend date was Monday, May 4th. This represents a c) dividend on an annualized basis and a yield of 13.5%. Grupo Financiero Galicia’s payout ratio is presently 213.66%.

About Grupo Financiero Galicia

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.