Franklin Resources Inc. Buys Shares of 93,137 Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Franklin Resources Inc. bought a new stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 93,137 shares of the bank’s stock, valued at approximately $5,804,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Grupo Financiero Galicia by 267.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 92,505 shares of the bank’s stock worth $3,894,000 after acquiring an additional 67,312 shares during the period. SMART Wealth LLC acquired a new stake in shares of Grupo Financiero Galicia during the fourth quarter worth approximately $295,000. Verde Servicos Internacionais S.A. bought a new position in Grupo Financiero Galicia during the fourth quarter worth $686,000. Deltec Asset Management LLC bought a new stake in Grupo Financiero Galicia in the fourth quarter valued at $262,000. Finally, Nkcfo LLC acquired a new position in shares of Grupo Financiero Galicia during the fourth quarter valued at $312,000.

Wall Street Analyst Weigh In

Separately, Morgan Stanley raised Grupo Financiero Galicia from an “underweight” rating to an “overweight” rating and set a $92.00 price target on the stock in a research note on Monday, December 16th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Grupo Financiero Galicia currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Grupo Financiero Galicia Stock Up 14.2 %

Shares of Grupo Financiero Galicia stock opened at $52.17 on Thursday. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 7.68 and a beta of 1.60. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.11 and a quick ratio of 1.11. Grupo Financiero Galicia S.A. has a 52-week low of $23.53 and a 52-week high of $74.00. The stock has a 50-day simple moving average of $57.11 and a 200-day simple moving average of $57.66.

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.