Royal Palms Capital LLC Takes $1.48 Million Position in Lloyds Banking Group PLC $LYG

Royal Palms Capital LLC purchased a new stake in shares of Lloyds Banking Group PLC (NYSE:LYG) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 278,661 shares of the financial services provider’s stock, valued at approximately $1,477,000. Lloyds Banking Group accounts for about 1.8% of Royal Palms Capital LLC’s portfolio, making the stock its 26th largest position.

Several other institutional investors have also recently modified their holdings of the stock. Mesirow Financial Investment Management Inc. raised its position in shares of Lloyds Banking Group by 7.7% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 28,561 shares of the financial services provider’s stock worth $130,000 after purchasing an additional 2,040 shares during the last quarter. Harbour Investments Inc. raised its holdings 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 valued at $34,000 after acquiring an additional 2,051 shares during the last quarter. Xponance Inc. grew its stake in shares of Lloyds Banking Group by 14.7% during the 3rd quarter. Xponance Inc. now owns 17,992 shares of the financial services provider’s stock valued at $82,000 after buying an additional 2,302 shares during the period. SYM FINANCIAL Corp grew its stake in shares of Lloyds Banking Group by 17.0% during the 3rd quarter. SYM FINANCIAL Corp now owns 15,864 shares of the financial services provider’s stock valued at $72,000 after buying an additional 2,309 shares during the period. Finally, Portside Wealth Group LLC grew its stake in shares of Lloyds Banking Group by 18.2% during the 3rd quarter. Portside Wealth Group LLC now owns 15,245 shares of the financial services provider’s stock valued at $69,000 after buying an additional 2,351 shares during the period. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LYG. Wall Street Zen raised shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Citigroup reissued a “buy” rating on shares of Lloyds Banking Group in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Lloyds Banking Group in a research report on Tuesday, February 3rd. UBS Group raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research report on Thursday, April 30th. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Lloyds Banking Group currently has an average rating of “Moderate Buy”.

Lloyds Banking Group Stock Performance

Shares of Lloyds Banking Group stock opened at $5.51 on Wednesday. The firm has a market cap of $80.58 billion, a PE ratio of 12.52, a price-to-earnings-growth ratio of 0.54 and a beta of 0.88. The firm’s 50-day simple moving average is $5.28 and its 200-day simple moving average is $5.33. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.56 and a current ratio of 0.56. Lloyds Banking Group PLC has a 1 year low of $3.98 and a 1 year high of $6.34.

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

Lloyds Banking Group Company 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.