QRG Capital Management Inc. Raises Holdings in Lloyds Banking Group PLC $LYG

QRG Capital Management Inc. boosted its position in Lloyds Banking Group PLC (NYSE:LYG) by 8.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,546,048 shares of the financial services provider’s stock after purchasing an additional 124,472 shares during the quarter. QRG Capital Management Inc.’s holdings in Lloyds Banking Group were worth $7,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in LYG. HB Wealth Management LLC raised its holdings in shares of Lloyds Banking Group by 25.1% in the 1st quarter. HB Wealth Management LLC now owns 82,263 shares of the financial services provider’s stock worth $414,000 after purchasing an additional 16,515 shares during the period. World Investment Advisors lifted its holdings in Lloyds Banking Group by 43.2% in the 1st quarter. World Investment Advisors now owns 49,055 shares of the financial services provider’s stock worth $247,000 after buying an additional 14,806 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its stake in shares of Lloyds Banking Group by 360.0% in the first quarter. Elevation Point Wealth Partners LLC now owns 365,056 shares of the financial services provider’s stock worth $1,836,000 after acquiring an additional 285,692 shares in the last quarter. Keybank National Association OH boosted its stake in shares of Lloyds Banking Group by 198.6% during the 1st quarter. Keybank National Association OH now owns 184,137 shares of the financial services provider’s stock valued at $926,000 after buying an additional 122,477 shares during the last quarter. Finally, Twin City Private Wealth LLC grew its holdings in Lloyds Banking Group by 3.5% during the 1st quarter. Twin City Private Wealth LLC now owns 350,118 shares of the financial services provider’s stock worth $1,761,000 after acquiring an additional 11,898 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Stock Performance

NYSE:LYG opened at $6.07 on Friday. 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’s fifty day simple moving average is $5.45 and its 200 day simple moving average is $5.45. The firm has a market capitalization of $88.70 billion, a PE ratio of 13.78, a PEG ratio of 0.61 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.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Thursday, April 30th. Berenberg Bank initiated coverage on shares of Lloyds Banking Group in a report on Wednesday, June 24th. They issued a “hold” rating for the company. Wall Street Zen downgraded Lloyds Banking Group from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings downgraded shares of Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Lloyds Banking Group in a report on Tuesday. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Lloyds Banking Group Profile

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.