ABC Arbitrage SA Purchases New Shares in Lloyds Banking Group PLC $LYG

ABC Arbitrage SA acquired a new stake in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 397,446 shares of the financial services provider's stock, valued at approximately $1,689,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in shares of Lloyds Banking Group by 6.1% during the first quarter. Goldman Sachs Group Inc. now owns 24,154,117 shares of the financial services provider's stock valued at $92,269,000 after buying an additional 1,397,163 shares during the period. Millennium Management LLC boosted its position in Lloyds Banking Group by 15.5% during the 1st quarter. Millennium Management LLC now owns 8,199,299 shares of the financial services provider's stock valued at $31,321,000 after acquiring an additional 1,100,359 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Lloyds Banking Group by 6.0% during the 1st quarter. American Century Companies Inc. now owns 7,011,774 shares of the financial services provider's stock worth $26,785,000 after acquiring an additional 399,866 shares during the period. First Eagle Investment Management LLC raised its position in shares of Lloyds Banking Group by 9.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 6,816,161 shares of the financial services provider's stock worth $28,969,000 after acquiring an additional 612,523 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its stake in shares of Lloyds Banking Group by 5.4% in the 1st quarter. Raymond James Financial Inc. now owns 4,349,389 shares of the financial services provider's stock valued at $16,615,000 after purchasing an additional 222,180 shares during the period. 2.15% of the stock is owned by hedge funds and other institutional investors.

Lloyds Banking Group Stock Performance

LYG stock opened at $5.03 on Thursday. The stock has a market capitalization of $74.48 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 0.65 and a beta of 1.05. The stock's 50 day simple moving average is $4.58 and its 200 day simple moving average is $4.34. Lloyds Banking Group PLC has a 12-month low of $2.56 and a 12-month high of $5.05. The company has a current ratio of 0.55, a quick ratio of 0.53 and a debt-to-equity ratio of 1.94.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last posted its quarterly earnings results on Thursday, October 23rd. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07). Lloyds Banking Group had a return on equity of 8.38% and a net margin of 18.04%.The business had revenue of $6.56 billion during the quarter, compared to analysts' expectations of $5.02 billion. As a group, research analysts forecast that Lloyds Banking Group PLC will post 0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on LYG shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Lloyds Banking Group in a report on Friday, October 31st. Morgan Stanley reiterated an "overweight" rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. Keefe, Bruyette & Woods raised shares of Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Citigroup restated a "neutral" rating on shares of Lloyds Banking Group in a report on Monday, September 22nd. Finally, Kepler Capital Markets raised shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Lloyds Banking Group currently has an average rating of "Moderate Buy".

About Lloyds Banking Group

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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