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

PNC Financial Services Group Inc. lifted its position in Lloyds Banking Group PLC (NYSE:LYG) by 70.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 482,149 shares of the financial services provider’s stock after acquiring an additional 199,701 shares during the period. PNC Financial Services Group Inc.’s holdings in Lloyds Banking Group were worth $2,425,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LYG. Royal Bank of Canada raised its holdings in Lloyds Banking Group by 10.6% in the first quarter. Royal Bank of Canada now owns 1,126,734 shares of the financial services provider’s stock worth $4,305,000 after purchasing an additional 108,100 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Lloyds Banking Group by 124.1% during the 1st quarter. AQR Capital Management LLC now owns 263,246 shares of the financial services provider’s stock valued at $1,006,000 after buying an additional 145,772 shares in the last quarter. Jane Street Group LLC grew its position in shares of Lloyds Banking Group by 18.4% in the 1st quarter. Jane Street Group LLC now owns 812,424 shares of the financial services provider’s stock worth $3,103,000 after buying an additional 126,247 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Lloyds Banking Group by 162.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 11,724 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 7,253 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Lloyds Banking Group during the 1st quarter valued at about $639,000. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Berenberg Bank initiated coverage on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. They set a “hold” rating on the stock. Weiss Ratings lowered shares of Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Citigroup restated a “buy” rating on shares of Lloyds Banking Group in a research note on Thursday, July 16th. Keefe, Bruyette & Woods lowered Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a research report on Friday, July 17th. Finally, UBS Group upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Lloyds Banking Group presently has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Price Performance

Shares of NYSE:LYG opened at $5.87 on Thursday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $85.44 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.62 and a beta of 0.87. The business has a 50-day simple moving average of $5.71 and a two-hundred day simple moving average of $5.54. Lloyds Banking Group PLC has a fifty-two week low of $4.05 and a fifty-two week high of $6.34.

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