PNC Financial Services Group Inc. Buys 199,701 Shares of Lloyds Banking Group PLC $LYG

PNC Financial Services Group Inc. boosted its position in Lloyds Banking Group PLC (NYSE:LYG) by 70.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 482,149 shares of the financial services provider’s stock after acquiring an additional 199,701 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lloyds Banking Group were worth $2,425,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Tucker Asset Management LLC purchased a new position in shares of Lloyds Banking Group in the 4th quarter worth about $27,000. Cornerstone Planning Group LLC raised its holdings in shares of Lloyds Banking Group by 131.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 5,137 shares of the financial services provider’s stock valued at $27,000 after buying an additional 2,915 shares in the last quarter. Harbour Investments Inc. lifted its position in Lloyds Banking Group by 47.3% in the 4th quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider’s stock worth $34,000 after buying an additional 2,051 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Lloyds Banking Group in the fourth quarter worth approximately $35,000. Finally, Manchester Capital Management LLC grew its position in Lloyds Banking Group by 1,216.6% during the fourth quarter. Manchester Capital Management LLC now owns 8,163 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 7,543 shares during the last quarter. Institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Stock Performance

Lloyds Banking Group stock opened at $5.87 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.09. The firm has a market cap of $85.44 billion, a P/E ratio of 13.33, a P/E/G ratio of 0.62 and a beta of 0.87. Lloyds Banking Group PLC has a 1-year low of $4.05 and a 1-year high of $6.34. The firm has a 50-day moving average of $5.71 and a 200-day moving average of $5.54.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.13 earnings per share (EPS) for the quarter. Lloyds Banking Group had a return on equity of 10.63% and a net margin of 25.11%.The company had revenue of $6.87 billion for the quarter. Sell-side analysts expect that Lloyds Banking Group PLC will post 0.53 EPS for the current year.

Wall Street Analysts Forecast Growth

LYG has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Weiss Ratings cut shares of Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a research report on Friday, July 17th. Berenberg Bank began coverage on Lloyds Banking Group in a research note on Wednesday, June 24th. They set a “hold” rating on the stock. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a report on Tuesday, June 30th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

About Lloyds Banking Group

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.