Jennison Associates LLC Acquires New Stake in Grupo Financiero Galicia S.A. (NASDAQ:GGAL)

Jennison Associates LLC bought a new position in Grupo Financiero Galicia S.A. (NASDAQ:GGAL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,221,583 shares of the bank’s stock, valued at approximately $51,416,000. Jennison Associates LLC owned about 0.83% of Grupo Financiero Galicia as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in GGAL. Blue Trust Inc. bought a new stake in Grupo Financiero Galicia during the second quarter valued at about $40,000. Ashton Thomas Private Wealth LLC bought a new position in Grupo Financiero Galicia in the 2nd quarter worth $51,000. Banco Santander S.A. bought a new position in Grupo Financiero Galicia in the 2nd quarter worth $211,000. NorthRock Partners LLC purchased a new stake in Grupo Financiero Galicia in the 3rd quarter worth $253,000. Finally, Truist Financial Corp bought a new stake in Grupo Financiero Galicia during the second quarter valued at about $273,000.

Grupo Financiero Galicia Stock Performance

Shares of GGAL opened at $55.93 on Friday. Grupo Financiero Galicia S.A. has a fifty-two week low of $13.06 and a fifty-two week high of $59.79. The company’s fifty day moving average is $49.35 and its 200 day moving average is $38.78.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Citigroup upgraded Grupo Financiero Galicia from a “neutral” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Wednesday, September 4th. Bank of America upgraded shares of 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 research report on Thursday, August 8th. StockNews.com cut shares of Grupo Financiero Galicia from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, 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.

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.