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Zacks Investment Research lowered shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) from a buy rating to a hold rating in a research report report published on Tuesday morning, MarketBeat Ratings 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. “

Grupo Financiero Galicia (NASDAQ:GGAL) opened at 27.76 on Tuesday. The stock has a 50 day moving average of $26.19 and a 200 day moving average of $22.82. The firm has a market cap of $3.61 billion and a PE ratio of 12.85. Grupo Financiero Galicia has a one year low of $15.30 and a one year high of $29.25.

Separately, JPMorgan Chase Co. upgraded shares of Grupo Financiero Galicia from an underweight rating to a neutral rating and raised their price target for the company from $16.00 to $32.00 in a report on Tuesday.

Other hedge funds and institutional investors have bought and sold shares of the company. Wells Fargo Company MN raised its position in Grupo Financiero Galicia by 85.3% in the fourth quarter. Wells Fargo Company MN now owns 13,274 shares of the company’s stock valued at $360,000 after buying an additional 6,109 shares during the last quarter. Morgan Stanley raised its stake in Grupo Financiero Galicia by 228.7% in the fourth quarter. Morgan Stanley now owns 1,403,263 shares of the company’s stock worth $38,001,000 after buying an additional 976,292 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in Grupo Financiero Galicia during the fourth quarter worth about $1,316,000. Shell Asset Management Co. purchased a new stake in Grupo Financiero Galicia during the fourth quarter worth about $1,589,000. Finally, Bienville Capital Management LLC raised its stake in Grupo Financiero Galicia by 12.7% in the fourth quarter. Bienville Capital Management LLC now owns 785,713 shares of the company’s stock worth $21,277,000 after buying an additional 88,622 shares in the last quarter.

Grupo Financiero Galicia SA (NASDAQ:GGAL) is a financial services holding company. Banco de Galicia y Buenos Aires SA (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.

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