Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Position Decreased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lowered its position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 12.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,495 shares of the bank’s stock after selling 13,015 shares during the period. Manning & Napier Advisors LLC owned 0.07% of Grupo Financiero Galicia worth $3,815,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Grupo Financiero Galicia during the first quarter worth $107,000. Bank of America Corp DE raised its stake in shares of 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 period. Fisher Asset Management LLC raised its stake in shares of 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 period. DekaBank Deutsche Girozentrale purchased a new stake in shares of Grupo Financiero Galicia during the first quarter worth $431,000. Finally, Eqis Capital Management Inc. raised its stake in shares of Grupo Financiero Galicia by 11.4% in the first quarter. Eqis Capital Management Inc. now owns 12,631 shares of the bank’s stock worth $478,000 after buying an additional 1,289 shares during the period. 29.99% of the stock is owned by hedge funds and other institutional investors.

Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) traded up 1.17% on Friday, hitting $37.19. The stock had a trading volume of 161,401 shares. The stock has a 50 day moving average of $40.63 and a 200 day moving average of $38.50. 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 market cap of $4.84 billion, a price-to-earnings ratio of 13.27 and a beta of 1.31.

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GGAL has been the subject of a number of research analyst reports. Zacks Investment Research lowered Grupo Financiero Galicia from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 22nd. Citigroup Inc. lowered Grupo Financiero Galicia from a “neutral” rating to a “sell” rating in a research report on Wednesday, June 7th. Finally, BidaskClub lowered Grupo Financiero Galicia from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 9th.

Grupo Financiero Galicia Company Profile

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).