PointState Capital LP Raises Stock Position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

PointState Capital LP raised its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 14.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 577,337 shares of the bank’s stock after buying an additional 73,168 shares during the period. Grupo Financiero Galicia makes up approximately 0.7% of PointState Capital LP’s holdings, making the stock its 29th largest holding. PointState Capital LP owned about 0.39% of Grupo Financiero Galicia worth $35,980,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in GGAL. Hsbc Holdings PLC grew its position in shares of Grupo Financiero Galicia by 9,082.3% in the fourth quarter. Hsbc Holdings PLC now owns 11,492,127 shares of the bank’s stock valued at $721,935,000 after purchasing an additional 11,366,972 shares during the last quarter. Axiom Investors LLC DE boosted its position in Grupo Financiero Galicia by 1,723.9% during the fourth quarter. Axiom Investors LLC DE now owns 1,520,960 shares of the bank’s stock worth $94,786,000 after acquiring an additional 1,437,570 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Grupo Financiero Galicia in the 4th quarter valued at $78,711,000. William Blair Investment Management LLC boosted its holdings in shares of Grupo Financiero Galicia by 778.9% in the 4th quarter. William Blair Investment Management LLC now owns 901,065 shares of the bank’s stock valued at $56,152,000 after purchasing an additional 798,542 shares during the last quarter. Finally, Fourth Sail Capital LP purchased a new position in shares of Grupo Financiero Galicia in the 4th quarter valued at $27,369,000.

Grupo Financiero Galicia Price Performance

GGAL opened at $62.71 on Thursday. Grupo Financiero Galicia S.A. has a 1-year low of $23.53 and a 1-year high of $74.00. The company has a 50-day moving average of $57.28 and a 200-day moving average of $59.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $9.25 billion, a P/E ratio of 9.24 and a beta of 1.79.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Grupo Financiero Galicia from a “hold” rating to a “sell” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $59.00.

About Grupo Financiero Galicia

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.