Pictet Asset Management Holding SA Sells 9,678 Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Pictet Asset Management Holding SA trimmed its holdings in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL - Free Report) by 25.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,152 shares of the bank's stock after selling 9,678 shares during the period. Pictet Asset Management Holding SA's holdings in Grupo Financiero Galicia were worth $1,754,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GGAL. R Squared Ltd acquired a new stake in shares of Grupo Financiero Galicia in the 4th quarter valued at $27,000. Commonwealth Equity Services LLC boosted its position in shares of Grupo Financiero Galicia by 11.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,102 shares of the bank's stock worth $380,000 after purchasing an additional 618 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Grupo Financiero Galicia by 41.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,134 shares of the bank's stock worth $136,000 after purchasing an additional 624 shares during the period. Blue Trust Inc. increased its holdings in Grupo Financiero Galicia by 78.8% in the fourth quarter. Blue Trust Inc. now owns 2,536 shares of the bank's stock valued at $158,000 after purchasing an additional 1,118 shares during the last quarter. Finally, State Street Corp lifted its stake in Grupo Financiero Galicia by 1.5% in the third quarter. State Street Corp now owns 84,378 shares of the bank's stock valued at $3,551,000 after buying an additional 1,260 shares during the period.

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Analysts Set New Price Targets

Separately, Morgan Stanley upgraded shares of Grupo Financiero Galicia from an "underweight" rating to an "overweight" rating and set a $92.00 price objective for the company in a research report on Monday, December 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $59.00.

Grupo Financiero Galicia Stock Performance

Grupo Financiero Galicia stock traded up $6.50 during trading hours on Wednesday, hitting $52.17. The company had a trading volume of 3,478,998 shares, compared to its average volume of 1,077,697. The firm has a 50-day moving average of $57.11 and a 200 day moving average of $57.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $7.69 billion, a PE ratio of 7.68 and a beta of 1.60. Grupo Financiero Galicia S.A. has a one year low of $23.53 and a one year high of $74.00.

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.