Jan
28
Zacks Investment Research downgraded shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) from a buy rating to a hold rating in a research note published on Wednesday morning, Market Beat.com reports.
According to Zacks, “Grupo Financiero Galicia SA. is involved in the Financial Services Industry. Their principal activity is to continue to be a financial and investment services holding company and to fulfill the banking services activities of Banco Galicia. “
Several hedge funds have recently made changes to their positions in the stock. EQIS Capital Management purchased a new stake in shares of Grupo Financiero Galicia during the fourth quarter valued at $260,000. Deltec Asset Management LLC raised its stake in shares of Grupo Financiero Galicia by 400.4% in the fourth quarter. Deltec Asset Management LLC now owns 68,269 shares of the company’s stock valued at $1,849,000 after buying an additional 54,625 shares during the period. Finally, Russell Frank Co raised its stake in shares of Grupo Financiero Galicia by 23.6% in the fourth quarter. Russell Frank Co now owns 311,898 shares of the company’s stock valued at $8,389,000 after buying an additional 59,617 shares during the period.
Grupo Financiero Galicia (NASDAQ:GGAL) traded down 0.244% during trading on Wednesday, hitting $26.545. The stock had a trading volume of 40,501 shares. The company has a 50 day moving average of $25.46 and a 200-day moving average of $22.33. Grupo Financiero Galicia has a 12-month low of $15.30 and a 12-month high of $29.25. The company has a market cap of $3.45 billion and a P/E ratio of 11.946.
Grupo Financiero Galicia S.A. (NASDAQ:GGAL) is a financial services holding company. Banco de Galicia y Buenos Aires S.A. (Banco Galicia) is the Company’s largest subsidiary. Banco Galicia is a bank that provides, directly or through its subsidiaries, a range of financial products and services to large corporations, small and medium sized companies (SMEs), and individuals. Through the operating subsidiaries of Tarjetas Regionales S.A., a holding company wholly owned by the Bank, the Company provides brand credit cards and consumer finance services throughout Argentina. Through Sudamericana Holding S.A. and its subsidiaries (Sudamericana) it provides insurance products in Argentina. It provides financial services through a distribution platform amongst private-sector financial institutions in Argentina.
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