Advisors Management Group Inc. ADV Buys New Shares in Lloyds Banking Group PLC (NYSE:LYG)

Advisors Management Group Inc. ADV purchased a new stake in shares of Lloyds Banking Group PLC (NYSE:LYG) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,190,285 shares of the financial services provider’s stock, valued at approximately $3,380,000. Lloyds Banking Group comprises approximately 1.5% of Advisors Management Group Inc. ADV’s investment portfolio, making the stock its 28th largest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings in shares of Lloyds Banking Group by 59.3% during the 2nd quarter. Renaissance Technologies LLC now owns 16,428,100 shares of the financial services provider’s stock worth $46,656,000 after acquiring an additional 6,116,500 shares during the period. Parametric Portfolio Associates LLC boosted its stake in Lloyds Banking Group by 28.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 11,306,872 shares of the financial services provider’s stock valued at $36,295,000 after purchasing an additional 2,476,497 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Lloyds Banking Group by 24.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 8,945,414 shares of the financial services provider’s stock valued at $25,405,000 after purchasing an additional 1,770,000 shares during the last quarter. Morningstar Investment Services LLC boosted its stake in Lloyds Banking Group by 33.8% during the 2nd quarter. Morningstar Investment Services LLC now owns 6,305,944 shares of the financial services provider’s stock valued at $17,909,000 after purchasing an additional 1,591,290 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc boosted its stake in Lloyds Banking Group by 18.0% during the 2nd quarter. Schafer Cullen Capital Management Inc now owns 10,110,437 shares of the financial services provider’s stock valued at $29,017,000 after purchasing an additional 1,543,978 shares during the last quarter. 2.01% of the stock is owned by institutional investors and hedge funds.

Shares of Lloyds Banking Group stock traded up $0.32 during trading on Friday, reaching $2.93. 15,012,919 shares of the stock traded hands, compared to its average volume of 4,708,512. The company has a market capitalization of $42.99 billion, a price-to-earnings ratio of 8.88 and a beta of 1.06. Lloyds Banking Group PLC has a 52-week low of $2.30 and a 52-week high of $3.46. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.49 and a quick ratio of 1.49. The business has a fifty day simple moving average of $2.53 and a two-hundred day simple moving average of $2.84.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.12 EPS for the quarter. The company had revenue of $5.99 billion during the quarter. Lloyds Banking Group had a return on equity of 15.86% and a net margin of 23.57%. On average, research analysts predict that Lloyds Banking Group PLC will post 0.38 earnings per share for the current fiscal year.

LYG has been the topic of several research analyst reports. Deutsche Bank cut Lloyds Banking Group from a “buy” rating to a “hold” rating in a report on Friday, September 6th. Goldman Sachs Group cut Lloyds Banking Group from a “neutral” rating to a “sell” rating in a report on Thursday, September 12th. Keefe, Bruyette & Woods cut Lloyds Banking Group from a “market perform” rating to an “underperform” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. cut Lloyds Banking Group from an “overweight” rating to a “neutral” rating in a report on Tuesday, July 16th. Finally, Zacks Investment Research cut Lloyds Banking Group from a “hold” rating to a “sell” rating in a report on Thursday. Four research analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $3.75.

Lloyds Banking Group Profile

Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. It operates through three segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, unsecured consumer loans, leasing solutions, and credit cards to personal and small business customers.

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

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