Claro Advisors LLC Has $4.54 Million Holdings in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Claro Advisors LLC increased its stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 1,058.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,800 shares of the bank's stock after buying an additional 98,496 shares during the quarter. Claro Advisors LLC owned approximately 0.07% of Grupo Financiero Galicia worth $4,537,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GGAL. Ping Capital Management Inc. acquired a new position in Grupo Financiero Galicia during the second quarter worth approximately $23,611,000. William Blair Investment Management LLC bought a new stake in Grupo Financiero Galicia in the 2nd quarter valued at $8,573,000. BNP Paribas Financial Markets lifted its holdings in Grupo Financiero Galicia by 266.5% during the 1st quarter. BNP Paribas Financial Markets now owns 338,939 shares of the bank's stock valued at $8,616,000 after purchasing an additional 246,452 shares during the last quarter. PEAK6 Investments LLC boosted its position in Grupo Financiero Galicia by 135.8% during the first quarter. PEAK6 Investments LLC now owns 64,480 shares of the bank's stock worth $1,639,000 after purchasing an additional 244,580 shares during the period. Finally, INCA Investments LLC increased its holdings in shares of Grupo Financiero Galicia by 27.6% in the first quarter. INCA Investments LLC now owns 1,078,149 shares of the bank's stock valued at $27,407,000 after purchasing an additional 232,980 shares during the last quarter.

Grupo Financiero Galicia Trading Up 3.7 %

NASDAQ GGAL traded up $1.80 during trading on Friday, reaching $50.62. The company's stock had a trading volume of 774,229 shares, compared to its average volume of 1,026,316. The firm has a 50 day moving average price of $41.43 and a 200 day moving average price of $34.62. Grupo Financiero Galicia S.A. has a 12 month low of $10.57 and a 12 month high of $51.02. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 6.77 and a beta of 1.93.

Grupo Financiero Galicia Increases Dividend

The business also recently disclosed a -- dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 19th were issued a $0.7248 dividend. The ex-dividend date of this dividend was Monday, August 19th. This is a boost from Grupo Financiero Galicia's previous -- dividend of $0.14. Grupo Financiero Galicia's payout ratio is currently 32.73%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GGAL. StockNews.com upgraded shares of Grupo Financiero Galicia from a "hold" rating to a "buy" rating in a research note on Thursday, August 29th. Citigroup upgraded 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. Bank of America upgraded Grupo Financiero Galicia from an "underperform" rating to a "buy" rating and increased their target price for the stock from $28.00 to $36.00 in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised Grupo Financiero Galicia from an "underweight" rating to an "overweight" rating and set a $54.00 price target for the company in a report on Friday, August 30th.

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.