Beck Bode LLC Makes New $5.25 Million Investment in Lloyds Banking Group PLC $LYG

Key Points

• Beck Bode LLC purchased a new stake of 1,236,249 shares in Lloyds Banking Group during Q2, valued at about $5.25 million.
• Lloyds reported Q results with EPS of $0.05 versus $0.12 expected but revenue of $6.56 billion beat estimates, and several analysts have upgraded the stock leaving an average rating of “Moderate Buy.”
• Institutional buying has increased—examples include American Century (7.01M shares) and First Eagle (6.82M shares)—and Lloyds trades with a market cap of ~$74.03B and a P/E of 14.27.

Beck Bode LLC purchased a new stake in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,236,249 shares of the financial services provider's stock, valued at approximately $5,254,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Townsquare Capital LLC increased its holdings in shares of Lloyds Banking Group by 4.2% during the 1st quarter. Townsquare Capital LLC now owns 1,596,132 shares of the financial services provider's stock worth $6,097,000 after buying an additional 64,952 shares during the last quarter. ICONIQ Capital LLC grew its position in Lloyds Banking Group by 194.1% in the first quarter. ICONIQ Capital LLC now owns 87,502 shares of the financial services provider's stock worth $334,000 after acquiring an additional 57,750 shares during the period. American Century Companies Inc. increased its stake in Lloyds Banking Group by 6.0% during the first 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 last quarter. First Eagle Investment Management LLC raised its position in Lloyds Banking Group by 9.9% in the second quarter. First Eagle Investment Management LLC now owns 6,816,161 shares of the financial services provider's stock valued at $28,969,000 after purchasing an additional 612,523 shares during the period. 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 last quarter. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Lloyds Banking Group Price Performance

Lloyds Banking Group stock opened at $5.00 on Wednesday. The stock has a market cap of $74.03 billion, a P/E ratio of 14.27, a price-to-earnings-growth ratio of 0.65 and a beta of 1.05. The company has a fifty day simple moving average of $4.56 and a 200-day simple moving average of $4.33. 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 PLC has a 12-month low of $2.56 and a 12-month high of $5.05.

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 analysts' consensus estimates of $0.12 by ($0.07). The business had revenue of $6.56 billion during the quarter, compared to analyst estimates of $5.02 billion. Lloyds Banking Group had a net margin of 18.04% and a return on equity of 8.38%. Equities analysts expect that Lloyds Banking Group PLC will post 0.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LYG shares. Keefe, Bruyette & Woods upgraded shares of Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Morgan Stanley reissued an "overweight" rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. JPMorgan Chase & Co. raised shares of Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research report on Friday, August 1st. The Goldman Sachs Group raised Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research report on Tuesday, August 5th. Finally, Citigroup reissued a "neutral" rating on shares of Lloyds Banking Group in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

Lloyds Banking Group Profile

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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