Northwest & Ethical Investments L.P. Purchases New Shares in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Northwest & Ethical Investments L.P. bought a new stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,543 shares of the bank’s stock, valued at approximately $906,000.

A number of other institutional investors have also recently modified their holdings of GGAL. Jennison Associates LLC bought a new stake in shares of Grupo Financiero Galicia during the 3rd quarter valued at $51,416,000. William Blair Investment Management LLC lifted its position in shares of Grupo Financiero Galicia by 778.9% during the 4th quarter. William Blair Investment Management LLC now owns 901,065 shares of the bank’s stock valued at $56,152,000 after acquiring an additional 798,542 shares during the period. Fourth Sail Capital LP bought a new stake in shares of Grupo Financiero Galicia during the 4th quarter valued at $27,369,000. BNP Paribas Financial Markets lifted 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 valued at $26,306,000 after acquiring an additional 318,326 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings 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 worth $11,945,000 after buying an additional 155,969 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price target for the company in a report on Monday, December 16th. One 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 has a consensus rating of “Moderate Buy” and an average target price of $59.00.

Grupo Financiero Galicia Trading Up 3.9 %

Shares of GGAL stock opened at $58.56 on Friday. The stock has a market cap of $8.64 billion, a price-to-earnings ratio of 8.62 and a beta of 1.85. The stock has a 50-day moving average of $61.78 and a 200-day moving average of $56.70. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.10. Grupo Financiero Galicia S.A. has a 1-year low of $23.53 and a 1-year high of $74.00.

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.