Equitable Trust Co. Invests $1.91 Million in Lloyds Banking Group PLC $LYG

Key Points

• Equitable Trust Co. bought a new stake in Lloyds Banking Group during the first quarter, purchasing 378,991 shares worth about $1.91 million.
• Several other institutional investors also increased or initiated positions in LYG, and hedge funds and other institutions now own 2.15% of the stock.
• Analysts currently have a Moderate Buy consensus on Lloyds Banking Group, with seven Buy ratings and five Hold ratings despite some recent downgrades.

Equitable Trust Co. purchased a new stake in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 378,991 shares of the financial services provider's stock, valued at approximately $1,906,000.

A number of other hedge funds have also bought and sold shares of LYG. Royal Bank of Canada lifted its position in shares of Lloyds Banking Group by 10.6% during 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 acquiring an additional 108,100 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Lloyds Banking Group by 124.1% in the first quarter. AQR Capital Management LLC now owns 263,246 shares of the financial services provider's stock valued at $1,006,000 after purchasing an additional 145,772 shares in the last quarter. Jane Street Group LLC raised its stake in shares of Lloyds Banking Group by 18.4% during the 1st quarter. Jane Street Group LLC now owns 812,424 shares of the financial services provider's stock valued at $3,103,000 after purchasing an additional 126,247 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Lloyds Banking Group by 162.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 11,724 shares of the financial services provider's stock worth $45,000 after purchasing an additional 7,253 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Lloyds Banking Group during the 1st quarter worth about $639,000. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Lloyds Banking Group Stock Performance

NYSE:LYG opened at $5.99 on Friday. The company has a market capitalization of $87.66 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.62 and a beta of 0.87. The business has a 50 day moving average of $5.52 and a 200 day moving average of $5.48. The company has a debt-to-equity ratio of 2.09, a current ratio of 0.56 and a quick ratio of 0.56. Lloyds Banking Group PLC has a 1-year low of $4.05 and a 1-year high of $6.34.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.13 EPS for the quarter. The firm 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%. On average, sell-side analysts predict that Lloyds Banking Group PLC will post 0.52 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LYG shares. Wall Street Zen cut shares of Lloyds Banking Group from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Citigroup reaffirmed a "buy" rating on shares of Lloyds Banking Group in a report on Thursday, April 30th. Weiss Ratings downgraded Lloyds Banking Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, May 11th. Berenberg Bank started coverage on Lloyds Banking Group in a research note on Wednesday, June 24th. They set a "hold" rating for the company. Finally, Morgan Stanley restated an "overweight" rating on shares of Lloyds Banking Group in a research report on Tuesday, June 30th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy".

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.

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