Investors Purchase High Volume of Put Options on Grupo Financiero Galicia (NASDAQ:GGAL)

Grupo Financiero Galicia S.A. (NASDAQ:GGAL) was the target of unusually large options trading on Friday. Stock traders bought 11,065 put options on the stock. This represents an increase of approximately 229% compared to the typical daily volume of 3,362 put options.

Institutional Trading of Grupo Financiero Galicia

Hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC grew its holdings in Grupo Financiero Galicia by 1.2% in the 3rd quarter. Hsbc Holdings PLC now owns 255,668 shares of the bank’s stock worth $3,370,000 after buying an additional 3,116 shares in the last quarter. Virtu Financial LLC increased its holdings in shares of Grupo Financiero Galicia by 78.5% during the fourth quarter. Virtu Financial LLC now owns 37,821 shares of the bank’s stock valued at $653,000 after purchasing an additional 16,628 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Grupo Financiero Galicia by 62.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 421,468 shares of the bank’s stock valued at $7,277,000 after purchasing an additional 161,684 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Grupo Financiero Galicia in the fourth quarter worth about $2,924,000. Finally, Dfpg Investments LLC grew its position in Grupo Financiero Galicia by 49.8% in the 4th quarter. Dfpg Investments LLC now owns 24,737 shares of the bank’s stock valued at $415,000 after buying an additional 8,224 shares in the last quarter.

Grupo Financiero Galicia Stock Performance

Shares of Grupo Financiero Galicia stock opened at $30.56 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.98 and a current ratio of 0.98. Grupo Financiero Galicia has a 1 year low of $10.57 and a 1 year high of $37.83. The firm’s 50-day simple moving average is $33.53 and its 200-day simple moving average is $25.56.

Grupo Financiero Galicia Increases Dividend

The business also recently declared a Variable dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 21st were given a dividend of $0.70 per share. This is a boost from Grupo Financiero Galicia’s previous Variable dividend of $0.12. The ex-dividend date was Friday, June 21st.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Grupo Financiero Galicia from a “hold” rating to a “buy” rating in a research note on Friday.

Grupo Financiero Galicia Company 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.