BlackRock Inc. lessened its position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 8.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,096,874 shares of the bank’s stock after selling 99,057 shares during the quarter. BlackRock Inc. owned 0.77% of Grupo Financiero Galicia worth $36,175,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of GGAL. Royal Bank of Canada grew its stake in Grupo Financiero Galicia by 55.4% during the 1st quarter. Royal Bank of Canada now owns 1,342,041 shares of the bank’s stock valued at $88,253,000 after purchasing an additional 478,284 shares during the last quarter. Bienville Capital Management LLC purchased a new stake in Grupo Financiero Galicia during the 2nd quarter valued at about $6,699,000. Russell Investments Group Ltd. grew its stake in Grupo Financiero Galicia by 125.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 209,886 shares of the bank’s stock valued at $7,277,000 after purchasing an additional 116,797 shares during the last quarter. AMS Capital Ltda purchased a new stake in Grupo Financiero Galicia during the 2nd quarter valued at about $3,001,000. Finally, Fred Alger Management Inc. grew its stake in Grupo Financiero Galicia by 140.7% during the 2nd quarter. Fred Alger Management Inc. now owns 134,116 shares of the bank’s stock valued at $4,423,000 after purchasing an additional 78,401 shares during the last quarter. Institutional investors and hedge funds own 28.53% of the company’s stock.
Several brokerages have recently issued reports on GGAL. TheStreet cut Grupo Financiero Galicia from a “b-” rating to a “c+” rating in a report on Friday, August 24th. ValuEngine raised Grupo Financiero Galicia from a “strong sell” rating to a “sell” rating in a report on Friday, July 6th. BidaskClub raised Grupo Financiero Galicia from a “strong sell” rating to a “sell” rating in a report on Friday, June 22nd. Zacks Investment Research cut Grupo Financiero Galicia from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 5th. Finally, Citigroup cut Grupo Financiero Galicia from a “buy” rating to a “neutral” rating in a report on Thursday, August 30th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $87.00.
Grupo Financiero Galicia (NASDAQ:GGAL) last released its quarterly earnings results on Friday, August 17th. The bank reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $483.52 million during the quarter, compared to analyst estimates of $392.51 million. On average, equities analysts predict that Grupo Financiero Galicia S.A. will post 3.16 EPS for the current fiscal year.
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.
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