Discovery Capital Management LLC CT Has $47.85 Million Stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Discovery Capital Management LLC CT decreased its position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 6.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,565,879 shares of the bank’s stock after selling 109,810 shares during the period. Grupo Financiero Galicia accounts for about 6.3% of Discovery Capital Management LLC CT’s investment portfolio, making the stock its 2nd largest holding. Discovery Capital Management LLC CT owned 1.06% of Grupo Financiero Galicia worth $47,853,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. AdvisorShares Investments LLC bought a new stake in Grupo Financiero Galicia in the fourth quarter worth about $516,000. Virtu Financial LLC raised its holdings in shares of Grupo Financiero Galicia by 78.5% in the 4th quarter. Virtu Financial LLC now owns 37,821 shares of the bank’s stock worth $653,000 after purchasing an additional 16,628 shares in the last quarter. Shilanski & Associates Inc. acquired a new stake in Grupo Financiero Galicia during the first quarter valued at approximately $242,000. Claro Advisors LLC bought a new stake in Grupo Financiero Galicia during the first quarter worth approximately $235,000. Finally, Norden Group LLC acquired a new position in Grupo Financiero Galicia in the first quarter worth approximately $383,000.

Grupo Financiero Galicia Stock Down 1.0 %

Shares of Grupo Financiero Galicia stock opened at $46.63 on Monday. Grupo Financiero Galicia S.A. has a 12 month low of $10.57 and a 12 month high of $47.70. The stock has a market cap of $6.88 billion, a PE ratio of 6.47 and a beta of 1.93. The business has a fifty day simple moving average of $34.95 and a 200-day simple moving average of $31.98.

Grupo Financiero Galicia Increases Dividend

The firm also recently announced a — dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were paid a dividend of $0.7248 per share. The ex-dividend date was Monday, August 19th. This is a boost from Grupo Financiero Galicia’s previous — dividend of $0.14. Grupo Financiero Galicia’s payout ratio is 34.40%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GGAL. StockNews.com upgraded Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 target price for the company in a report on Friday, August 30th. Bank of America raised Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $28.00 to $36.00 in a research note on Thursday, August 8th. Finally, Citigroup raised shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Wednesday, September 4th.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.