Global X Management Co. LLC boosted its position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 7.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,423 shares of the bank’s stock after buying an additional 13,102 shares during the period. Global X Management Co. LLC owned 0.14% of Grupo Financiero Galicia worth $7,693,000 as of its most recent filing with the SEC.
A number of other large investors have also recently made changes to their positions in GGAL. Schroder Investment Management Group increased its position in Grupo Financiero Galicia by 35.7% in the first quarter. Schroder Investment Management Group now owns 4,560,057 shares of the bank’s stock worth $175,426,000 after buying an additional 1,199,043 shares in the last quarter. Morgan Stanley increased its position in Grupo Financiero Galicia by 9.4% in the first quarter. Morgan Stanley now owns 3,408,348 shares of the bank’s stock worth $129,040,000 after buying an additional 293,114 shares in the last quarter. USS Investment Management Ltd bought a new position in Grupo Financiero Galicia during the first quarter worth $23,438,000. Renaissance Group LLC bought a new position in Grupo Financiero Galicia during the first quarter worth $14,443,000. Finally, Oxford Asset Management increased its position in Grupo Financiero Galicia by 14.4% in the first quarter. Oxford Asset Management now owns 500,000 shares of the bank’s stock worth $18,930,000 after buying an additional 62,995 shares in the last quarter. 30.12% of the stock is currently owned by institutional investors and hedge funds.
Grupo Financiero Galicia S.A. (GGAL) opened at 36.74 on Friday. The stock’s 50 day moving average price is $39.61 and its 200 day moving average price is $38.60. Grupo Financiero Galicia S.A. has a 52 week low of $23.23 and a 52 week high of $47.34. The company has a market capitalization of $4.78 billion, a P/E ratio of 13.39 and a beta of 1.31.
A number of research firms have weighed in on GGAL. Zacks Investment Research downgraded Grupo Financiero Galicia from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub upgraded Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Finally, Citigroup Inc. downgraded Grupo Financiero Galicia from a “neutral” rating to a “sell” rating in a research note on Wednesday, June 7th.
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).
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