Marvin & Palmer Associates Inc. Purchases 18,070 Shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Marvin & Palmer Associates Inc. boosted its position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) by 84.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,370 shares of the bank’s stock after acquiring an additional 18,070 shares during the period. Grupo Financiero Galicia accounts for 1.9% of Marvin & Palmer Associates Inc.’s investment portfolio, making the stock its 25th biggest position. Marvin & Palmer Associates Inc.’s holdings in Grupo Financiero Galicia were worth $2,454,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GGAL. R Squared Ltd purchased a new stake in shares of Grupo Financiero Galicia in the 4th quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Grupo Financiero Galicia by 41.3% in the 4th 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. lifted its position in shares of Grupo Financiero Galicia by 78.8% in the 4th quarter. Blue Trust Inc. now owns 2,536 shares of the bank’s stock worth $158,000 after purchasing an additional 1,118 shares during the period. Empowered Funds LLC purchased a new stake in shares of Grupo Financiero Galicia in the 4th quarter worth about $167,000. Finally, Burns Matteson Capital Management LLC purchased a new stake in shares of Grupo Financiero Galicia in the 4th quarter worth about $216,000.

Grupo Financiero Galicia Trading Up 1.4 %

Shares of NASDAQ GGAL opened at $57.63 on Monday. Grupo Financiero Galicia S.A. has a 1 year low of $21.60 and a 1 year high of $74.00. The stock has a market cap of $8.50 billion, a P/E ratio of 8.49 and a beta of 1.85. The firm has a 50-day moving average of $64.09 and a 200 day moving average of $55.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GGAL shares. Morgan Stanley raised shares of Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 target price for the company in a research report on Monday, December 16th. StockNews.com cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Grupo Financiero Galicia presently has a consensus rating of “Moderate Buy” and a consensus 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.