1,221,583 Shares in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) Acquired by Jennison Associates LLC

Jennison Associates LLC bought a new stake in shares of Grupo Financiero Galicia S.A. (NASDAQ:GGAL) during the 3rd quarter, Holdings Channel.com reports. The fund bought 1,221,583 shares of the bank’s stock, valued at approximately $51,416,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. INCA Investments LLC grew its position in shares of Grupo Financiero Galicia by 1.8% in the 3rd quarter. INCA Investments LLC now owns 1,373,576 shares of the bank’s stock worth $57,814,000 after buying an additional 24,354 shares during the last quarter. NorthRock Partners LLC acquired a new position in shares of Grupo Financiero Galicia during the third quarter worth $253,000. Diversify Wealth Management LLC lifted its holdings in shares of Grupo Financiero Galicia by 4.5% during the 3rd quarter. Diversify Wealth Management LLC now owns 27,819 shares of the bank’s stock valued at $1,171,000 after purchasing an additional 1,202 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Grupo Financiero Galicia in the 3rd quarter worth $1,503,000. Finally, X Square Capital LLC acquired a new stake in shares of Grupo Financiero Galicia in the 3rd quarter worth $316,000.

Grupo Financiero Galicia Stock Performance

NASDAQ GGAL opened at $55.93 on Friday. The company has a fifty day moving average of $49.35 and a 200 day moving average of $38.78. Grupo Financiero Galicia S.A. has a 1 year low of $13.06 and a 1 year high of $59.79.

Wall Street Analyst Weigh In

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

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.