Bank of New York Mellon Corp Reduces Stock Position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Bank of New York Mellon Corp reduced its holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 14.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,407 shares of the bank’s stock after selling 4,966 shares during the period. Bank of New York Mellon Corp’s holdings in Grupo Financiero Galicia were worth $1,895,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Grupo Financiero Galicia by 267.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 92,505 shares of the bank’s stock worth $3,894,000 after buying an additional 67,312 shares in the last quarter. SMART Wealth LLC purchased a new position in shares of Grupo Financiero Galicia in the 4th quarter worth $295,000. Verde Servicos Internacionais S.A. purchased a new position in shares of Grupo Financiero Galicia in the 4th quarter worth $686,000. Deltec Asset Management LLC purchased a new position in shares of Grupo Financiero Galicia in the 4th quarter worth $262,000. Finally, Nkcfo LLC purchased a new position in shares of Grupo Financiero Galicia in the 4th quarter worth $312,000.

Grupo Financiero Galicia Price Performance

GGAL stock opened at $58.56 on Friday. Grupo Financiero Galicia S.A. has a 12 month low of $23.53 and a 12 month high of $74.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $61.78 and a 200 day moving average price of $56.70. The stock has a market cap of $8.64 billion, a PE ratio of 8.62 and a beta of 1.85.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price objective for the company in a research note on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Grupo Financiero Galicia presently has an average rating of “Moderate Buy” and an average target price of $59.00.

Grupo Financiero Galicia Profile

Grupo Financiero Galicia SA, a financial service holding company, provides various financial products and services to individuals and companies in Argentina. The company operates through Banks, NaranjaX, Insurance, and Other Businesses segments. It also offers personal loans; express and mortgage loans; pledge and credit card loans; credit and debit cards; and online banking services, as well as savings, deposits, and checking accounts related services.