Eqis Capital Management Inc. Decreases Position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Eqis Capital Management Inc. lowered its position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 12.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,068 shares of the bank’s stock after selling 1,563 shares during the period. Eqis Capital Management Inc.’s holdings in Grupo Financiero Galicia were worth $472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D raised its position in shares of Grupo Financiero Galicia by 0.4% in the first quarter. State of New Jersey Common Pension Fund D now owns 171,944 shares of the bank’s stock worth $6,510,000 after buying an additional 600 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Grupo Financiero Galicia by 9.8% in the first quarter. Fisher Asset Management LLC now owns 9,000 shares of the bank’s stock worth $341,000 after buying an additional 800 shares during the last quarter. Bank of America Corp DE boosted its stake in Grupo Financiero Galicia by 39.5% in the first quarter. Bank of America Corp DE now owns 3,132 shares of the bank’s stock worth $120,000 after buying an additional 887 shares during the last quarter. Harding Loevner LP boosted its stake in Grupo Financiero Galicia by 0.8% in the first quarter. Harding Loevner LP now owns 129,590 shares of the bank’s stock worth $4,906,000 after buying an additional 1,010 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC acquired a new stake in Grupo Financiero Galicia during the first quarter worth $107,000. 29.99% of the stock is owned by institutional investors and hedge funds.

Shares of Grupo Financiero Galicia S.A. (NASDAQ GGAL) traded up 2.12% during mid-day trading on Tuesday, reaching $37.09. 303,617 shares of the company’s stock traded hands. Grupo Financiero Galicia S.A. has a 12 month low of $23.23 and a 12 month high of $47.34. The firm has a 50 day moving average price of $40.78 and a 200-day moving average price of $38.46. The stock has a market cap of $4.82 billion, a PE ratio of 13.24 and a beta of 1.35.

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GGAL has been the topic of a number of analyst reports. Citigroup Inc. cut shares of Grupo Financiero Galicia from a “neutral” rating to a “sell” rating in a research note on Wednesday, June 7th. BidaskClub cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Finally, Zacks Investment Research cut shares of Grupo Financiero Galicia from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 22nd.

About Grupo Financiero Galicia

Grupo Financiero Galicia SA (Grupo Financiero Galicia) is a financial services holding company. The Company’s segments include Banking, Regional Credit Cards, CFA, Insurance and Other Grupo Galicia Businesses. Banco de Galicia y Buenos Aires SA (Banco Galicia) is a subsidiary of the Company. Its banking business segment represents Banco Galicia consolidated line by line with Banco Galicia Uruguay SA (Galicia Uruguay).