Itau Unibanco Holding S.A. Takes $1.85 Million Position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Itau Unibanco Holding S.A. acquired a new stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 44,000 shares of the bank’s stock, valued at approximately $1,852,000.

Other large investors also recently modified their holdings of the company. INCA Investments LLC lifted its position in Grupo Financiero Galicia by 1.8% in the 3rd quarter. INCA Investments LLC now owns 1,373,576 shares of the bank’s stock worth $57,814,000 after buying an additional 24,354 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Grupo Financiero Galicia during the third quarter worth about $51,416,000. Ping Capital Management Inc. bought a new stake in shares of Grupo Financiero Galicia in the 2nd quarter valued at approximately $23,611,000. BNP Paribas Financial Markets raised its position in 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 purchasing an additional 318,326 shares in the last quarter. Finally, Duquesne Family Office LLC increased its holdings in shares of Grupo Financiero Galicia by 47.8% in the 2nd quarter. Duquesne Family Office LLC now owns 475,763 shares of the bank’s stock valued at $14,539,000 after acquiring an additional 153,900 shares during the period.

Analysts Set New Price Targets

Several brokerages recently weighed in on GGAL. Bank of America upgraded Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $28.00 to $36.00 in a research report on Thursday, August 8th. Citigroup upgraded shares of Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Wednesday, September 4th. StockNews.com downgraded shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, 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 report on Friday, August 30th.

Grupo Financiero Galicia Price Performance

GGAL stock opened at $59.23 on Tuesday. Grupo Financiero Galicia S.A. has a fifty-two week low of $15.32 and a fifty-two week high of $60.38. The stock’s 50 day simple moving average is $51.11 and its 200 day simple moving average is $39.97. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.10.

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.