Compass Group LLC purchased a new position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 167,200 shares of the bank’s stock, valued at approximately $4,603,000. Grupo Financiero Galicia comprises 2.6% of Compass Group LLC’s investment portfolio, making the stock its 10th largest holding.
Other hedge funds also recently modified their holdings of the company. Cheyne Capital Management UK LLP purchased a new stake in shares of Grupo Financiero Galicia during the 3rd quarter worth approximately $1,271,000. Tower Research Capital LLC TRC increased its stake in shares of Grupo Financiero Galicia by 71.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,368 shares of the bank’s stock worth $162,000 after purchasing an additional 2,646 shares during the last quarter. BlackRock Inc. increased its stake in shares of Grupo Financiero Galicia by 50.4% during the 3rd quarter. BlackRock Inc. now owns 1,649,781 shares of the bank’s stock worth $41,953,000 after purchasing an additional 552,907 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Grupo Financiero Galicia by 184.7% during the 3rd quarter. Marshall Wace LLP now owns 32,074 shares of the bank’s stock worth $816,000 after purchasing an additional 20,808 shares during the last quarter. Finally, Eaton Vance Management increased its stake in shares of Grupo Financiero Galicia by 38.6% during the 3rd quarter. Eaton Vance Management now owns 58,176 shares of the bank’s stock worth $1,479,000 after purchasing an additional 16,200 shares during the last quarter. Institutional investors own 23.12% of the company’s stock.
GGAL has been the subject of several research analyst reports. BidaskClub upgraded shares of Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research note on Monday, January 28th. Zacks Investment Research upgraded shares of Grupo Financiero Galicia from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Friday, January 4th. ValuEngine upgraded shares of Grupo Financiero Galicia from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Bank of America lowered shares of Grupo Financiero Galicia from a “buy” rating to a “neutral” rating in a research note on Thursday, October 25th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $32.00.
Grupo Financiero Galicia (NASDAQ:GGAL) last issued its quarterly earnings results on Wednesday, November 28th. The bank reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.36. The company had revenue of $401.18 million for the quarter, compared to analysts’ expectations of $415.61 million. As a group, equities research analysts forecast that Grupo Financiero Galicia S.A. will post 3.03 EPS for the current year.
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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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