QRG Capital Management Inc. Boosts Holdings in Lloyds Banking Group plc (NYSE:LYG)

QRG Capital Management Inc. lifted its position in Lloyds Banking Group plc (NYSE:LYGFree Report) by 81.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,537,062 shares of the financial services provider’s stock after acquiring an additional 688,570 shares during the period. QRG Capital Management Inc.’s holdings in Lloyds Banking Group were worth $3,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Lloyds Banking Group by 6.1% during the third quarter. American Century Companies Inc. now owns 3,986,428 shares of the financial services provider’s stock worth $8,491,000 after acquiring an additional 228,359 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Lloyds Banking Group in the 3rd quarter valued at about $1,363,000. First Trust Direct Indexing L.P. grew its position in Lloyds Banking Group by 4.1% in the 4th quarter. First Trust Direct Indexing L.P. now owns 309,779 shares of the financial services provider’s stock valued at $740,000 after buying an additional 12,334 shares during the last quarter. UBS Group AG increased its stake in shares of Lloyds Banking Group by 21.9% during the third quarter. UBS Group AG now owns 2,285,047 shares of the financial services provider’s stock worth $4,867,000 after acquiring an additional 411,188 shares during the period. Finally, Pinnacle Associates Ltd. lifted its holdings in shares of Lloyds Banking Group by 8.0% in the 4th quarter. Pinnacle Associates Ltd. now owns 157,205 shares of the financial services provider’s stock valued at $376,000 after buying an additional 11,600 shares during the period. 2.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LYG shares. Berenberg Bank began coverage on shares of Lloyds Banking Group in a research report on Thursday, April 25th. They set a “hold” rating and a $2.75 target price on the stock. Bank of America upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Lloyds Banking Group in a report on Thursday, May 9th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $52.55.

Read Our Latest Stock Analysis on Lloyds Banking Group

Lloyds Banking Group Stock Down 0.6 %

Shares of NYSE LYG opened at $2.69 on Tuesday. The firm’s 50 day moving average price is $2.56 and its 200 day moving average price is $2.32. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market cap of $42.43 billion, a P/E ratio of 7.07, a price-to-earnings-growth ratio of 1.13 and a beta of 1.29. Lloyds Banking Group plc has a 1 year low of $1.88 and a 1 year high of $2.72.

Lloyds Banking Group (NYSE:LYGGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.09 EPS for the quarter. Lloyds Banking Group had a return on equity of 10.35% and a net margin of 13.41%. The business had revenue of $14.35 billion during the quarter. As a group, sell-side analysts anticipate that Lloyds Banking Group plc will post 0.32 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, May 31st. Investors of record on Friday, April 12th will be given a $0.046 dividend. The ex-dividend date is Thursday, April 11th. This represents a dividend yield of 5.9%. Lloyds Banking Group’s dividend payout ratio is presently 47.37%.

Lloyds Banking Group Company Profile

(Free Report)

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.

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Institutional Ownership by Quarter for Lloyds Banking Group (NYSE:LYG)

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