Bank of New York Mellon Corp Reduces Stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Bank of New York Mellon Corp decreased its position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,902 shares of the bank’s stock after selling 1,302 shares during the quarter. Bank of New York Mellon Corp’s holdings in Grupo Financiero Galicia were worth $1,097,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. INCA Investments LLC boosted its stake in Grupo Financiero Galicia by 27.6% during the 1st quarter. INCA Investments LLC now owns 1,078,149 shares of the bank’s stock worth $27,407,000 after purchasing an additional 232,980 shares during the period. Rokos Capital Management LLP boosted its stake in shares of Grupo Financiero Galicia by 58.7% during the first quarter. Rokos Capital Management LLP now owns 572,752 shares of the bank’s stock worth $14,559,000 after buying an additional 211,870 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Grupo Financiero Galicia by 266.5% during the first quarter. BNP Paribas Financial Markets now owns 338,939 shares of the bank’s stock worth $8,616,000 after buying an additional 246,452 shares during the last quarter. PEAK6 Investments LLC grew its holdings in shares of Grupo Financiero Galicia by 135.8% during the first quarter. PEAK6 Investments LLC now owns 64,480 shares of the bank’s stock worth $1,639,000 after buying an additional 244,580 shares during the last quarter. Finally, Virtu Financial LLC increased its position in Grupo Financiero Galicia by 78.5% in the 4th quarter. Virtu Financial LLC now owns 37,821 shares of the bank’s stock valued at $653,000 after acquiring an additional 16,628 shares during the period.

Wall Street Analysts Forecast Growth

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

Grupo Financiero Galicia Stock Down 1.0 %

NASDAQ:GGAL opened at $46.63 on Friday. The firm’s fifty day simple moving average is $34.95 and its 200-day simple moving average is $31.84. Grupo Financiero Galicia S.A. has a fifty-two week low of $10.57 and a fifty-two week high of $47.70.

Grupo Financiero Galicia Increases Dividend

The business also recently announced a — dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were given a dividend of $0.7248 per share. This is a positive change from Grupo Financiero Galicia’s previous — dividend of $0.14. The ex-dividend date was Monday, August 19th.

Grupo Financiero Galicia Company Profile

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.