Assenagon Asset Management S.A. Buys New Shares in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Assenagon Asset Management S.A. purchased a new position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 35,702 shares of the bank’s stock, valued at approximately $1,503,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. acquired a new stake in Grupo Financiero Galicia during the second quarter valued at $40,000. Ashton Thomas Private Wealth LLC purchased a new position in Grupo Financiero Galicia during the second quarter valued at $51,000. Headlands Technologies LLC acquired a new stake in shares of Grupo Financiero Galicia in the first quarter valued at about $67,000. Banco Santander S.A. purchased a new stake in shares of Grupo Financiero Galicia during the second quarter worth about $211,000. Finally, Truist Financial Corp acquired a new position in shares of Grupo Financiero Galicia during the 2nd quarter worth about $273,000.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GGAL. JPMorgan Chase & Co. raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 price target on the stock in a research note on Friday, August 30th. StockNews.com cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. Bank of America upgraded shares of Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $28.00 to $36.00 in a research report on Thursday, August 8th. Finally, Citigroup upgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Wednesday, September 4th.

Grupo Financiero Galicia Price Performance

Shares of GGAL opened at $51.93 on Friday. Grupo Financiero Galicia S.A. has a 12-month low of $11.48 and a 12-month high of $55.61. The firm has a 50-day moving average price of $44.95 and a 200 day moving average price of $36.33.

Grupo Financiero Galicia Increases Dividend

The company also recently declared a — dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were given a dividend of $0.7248 per share. The ex-dividend date was Monday, August 19th. This is a positive change from Grupo Financiero Galicia’s previous — dividend of $0.14.

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.