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

Itau Unibanco Holding S.A. bought a new position in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 44,000 shares of the bank’s stock, valued at approximately $1,852,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. INCA Investments LLC grew 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 purchasing an additional 24,354 shares during the period. Jennison Associates LLC purchased a new stake in Grupo Financiero Galicia during the third quarter valued at about $51,416,000. Ping Capital Management Inc. purchased a new stake in shares of Grupo Financiero Galicia in the second quarter worth approximately $23,611,000. BNP Paribas Financial Markets grew its holdings in Grupo Financiero Galicia by 103.8% during the third 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 during the last quarter. Finally, Duquesne Family Office LLC lifted its position in Grupo Financiero Galicia by 47.8% in the second quarter. Duquesne Family Office LLC now owns 475,763 shares of the bank’s stock worth $14,539,000 after purchasing an additional 153,900 shares during the period.

Grupo Financiero Galicia Stock Performance

Shares of NASDAQ GGAL opened at $59.23 on Tuesday. The company has a 50 day simple moving average of $51.11 and a 200-day simple moving average of $39.97. 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 1 year low of $15.32 and a 1 year high of $60.38.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GGAL shares. Bank of America upgraded Grupo Financiero Galicia from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $28.00 to $36.00 in a report on Thursday, August 8th. JPMorgan Chase & Co. upgraded Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $54.00 target price for the company in a report on Friday, August 30th. StockNews.com cut Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Citigroup upgraded Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Wednesday, September 4th.

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.