Jennison Associates LLC Raises Holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Jennison Associates LLC raised its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,248,936 shares of the bank's stock after acquiring an additional 27,353 shares during the quarter. Jennison Associates LLC owned approximately 0.85% of Grupo Financiero Galicia worth $77,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. INCA Investments LLC raised its holdings in Grupo Financiero Galicia by 1.8% in the third quarter. INCA Investments LLC now owns 1,373,576 shares of the bank's stock valued at $57,814,000 after acquiring an additional 24,354 shares in the last quarter. 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 worth $26,306,000 after buying an additional 318,326 shares in the last quarter. PointState Capital LP increased 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 purchasing an additional 68,658 shares during the period. Assenagon Asset Management S.A. boosted 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 purchasing an additional 155,969 shares in the last quarter. Finally, Dorsey Wright & Associates increased its holdings in shares of Grupo Financiero Galicia by 11.2% in the third quarter. Dorsey Wright & Associates now owns 127,179 shares of the bank's stock valued at $5,353,000 after buying an additional 12,815 shares in the last quarter.

Grupo Financiero Galicia Price Performance

Shares of NASDAQ:GGAL traded down $1.17 during mid-day trading on Wednesday, reaching $64.25. The stock had a trading volume of 164,592 shares, compared to its average volume of 1,086,431. The firm has a 50 day simple moving average of $65.00 and a two-hundred day simple moving average of $50.93. 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 twelve month low of $18.02 and a twelve month high of $74.00.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Morgan Stanley upgraded Grupo Financiero Galicia from an "underweight" rating to an "overweight" rating and set a $92.00 target price on the stock in a report on Monday, December 16th. StockNews.com cut Grupo Financiero Galicia from a "buy" rating to a "hold" rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Grupo Financiero Galicia presently has an average rating of "Moderate Buy" and an average price target of $59.00.

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.