Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Position Cut by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 24.1% during the second quarter, Holdings Channel reports. The firm owned 94,500 shares of the bank’s stock after selling 30,000 shares during the period. Handelsbanken Fonder AB’s holdings in Grupo Financiero Galicia were worth $4,029,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allianz Asset Management AG increased its position in Grupo Financiero Galicia by 27.1% in the fourth quarter. Allianz Asset Management AG now owns 64,804 shares of the bank’s stock valued at $1,745,000 after buying an additional 13,800 shares during the period. Franklin Resources Inc. bought a new position in Grupo Financiero Galicia during the fourth quarter valued at $7,015,000. Manning & Napier Advisors LLC bought a new position in Grupo Financiero Galicia during the first quarter valued at $3,880,000. Harding Loevner LP increased its position in Grupo Financiero Galicia by 0.8% in the first quarter. Harding Loevner LP now owns 129,590 shares of the bank’s stock valued at $4,906,000 after buying an additional 1,010 shares during the period. Finally, Fisher Asset Management LLC increased its position 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 valued at $341,000 after buying an additional 800 shares during the period. Hedge funds and other institutional investors own 30.02% of the company’s stock.

Shares of Grupo Financiero Galicia S.A. (NASDAQ GGAL) opened at 41.57 on Monday. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 14.22 and a beta of 1.35. The stock has a 50 day moving average of $43.02 and a 200-day moving average of $36.36. Grupo Financiero Galicia S.A. has a one year low of $23.23 and a one year high of $47.34.

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A number of research firms have commented on GGAL. Zacks Investment Research downgraded shares of Grupo Financiero Galicia from a “strong-buy” rating to a “hold” rating in a report on Monday, May 22nd. Citigroup Inc. downgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “sell” rating in a report on Wednesday, June 7th. Finally, BidaskClub cut shares of 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).

Want to see what other hedge funds are holding GGAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Grupo Financiero Galicia S.A. (NASDAQ:GGAL).

Institutional Ownership by Quarter for Grupo Financiero Galicia (NASDAQ:GGAL)

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