Marvin & Palmer Associates Inc. Boosts Holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Marvin & Palmer Associates Inc. boosted its position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 84.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,370 shares of the bank’s stock after purchasing an additional 18,070 shares during the quarter. Grupo Financiero Galicia comprises 1.9% of Marvin & Palmer Associates Inc.’s investment portfolio, making the stock its 25th biggest position. Marvin & Palmer Associates Inc.’s holdings in Grupo Financiero Galicia were worth $2,454,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GGAL. Jennison Associates LLC purchased a new stake in shares of Grupo Financiero Galicia during the 3rd quarter valued at $51,416,000. Fourth Sail Capital LP purchased a new stake in shares of Grupo Financiero Galicia during the 4th quarter valued at $27,369,000. BNP Paribas Financial Markets raised its position in shares of Grupo Financiero Galicia by 103.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 625,003 shares of the bank’s stock valued at $26,306,000 after buying an additional 318,326 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Grupo Financiero Galicia by 436.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 191,671 shares of the bank’s stock valued at $11,945,000 after buying an additional 155,969 shares in the last quarter. Finally, PointState Capital LP raised its position in shares of Grupo Financiero Galicia by 15.8% during the 3rd quarter. PointState Capital LP now owns 504,169 shares of the bank’s stock valued at $21,220,000 after buying an additional 68,658 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price objective on the stock in a research report on Monday, December 16th. StockNews.com lowered shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a report on Thursday, November 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Grupo Financiero Galicia Price Performance

GGAL stock opened at $57.63 on Monday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 1.11. Grupo Financiero Galicia S.A. has a 52 week low of $21.60 and a 52 week high of $74.00. The firm’s fifty day moving average is $64.09 and its 200 day moving average is $55.52. The firm has a market cap of $8.50 billion, a P/E ratio of 8.49 and a beta of 1.85.

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.