Lloyds Banking Group PLC $LYG Stock Purchased by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its Lloyds Banking Group position by 12% in the second quarter, adding 185,523 shares for a total of 1.73 million shares valued at approximately $10.1 million.
• Lloyds reported quarterly EPS of $0.13, below the $0.14 consensus estimate, while revenue of $6.57 billion also missed expectations. The company reduced its dividend to $0.084 per share from $0.134.
• Analyst sentiment remains generally positive, with eight Buy ratings and three Hold ratings, resulting in a “Moderate Buy” consensus; the stock recently traded at $5.66 within a $4.36–$6.34 12-month range.

QRG Capital Management Inc. lifted its position in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 12.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,731,571 shares of the financial services provider's stock after buying an additional 185,523 shares during the period. QRG Capital Management Inc.'s holdings in Lloyds Banking Group were worth $10,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYG. Cornerstone Planning Group LLC lifted its holdings in shares of Lloyds Banking Group by 131.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 5,137 shares of the financial services provider's stock worth $27,000 after acquiring an additional 2,915 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Lloyds Banking Group by 47.3% in the fourth quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 2,051 shares during the period. Manchester Capital Management LLC boosted its stake in shares of Lloyds Banking Group by 1,216.6% in the 4th quarter. Manchester Capital Management LLC now owns 8,163 shares of the financial services provider's stock valued at $43,000 after buying an additional 7,543 shares during the period. Aletheian Wealth Advisors LLC acquired a new position in Lloyds Banking Group during the 2nd quarter worth approximately $71,000. Finally, a16z Perennial Management L.P. acquired a new position in shares of Lloyds Banking Group during the fourth quarter worth $65,000. 2.15% of the stock is owned by institutional investors and hedge funds.

Lloyds Banking Group Price Performance

Lloyds Banking Group stock opened at $5.66 on Friday. The firm's 50-day moving average is $6.02 and its two-hundred day moving average is $5.64. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.52 and a quick ratio of 0.56. The stock has a market capitalization of $81.99 billion, a P/E ratio of 13.15, a P/E/G ratio of 0.59 and a beta of 0.87. Lloyds Banking Group PLC has a 12-month low of $4.36 and a 12-month high of $6.34.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%.The business had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.86 billion. Equities analysts predict that Lloyds Banking Group PLC will post 0.55 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, September 25th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.0840 per share. This is a drop from Lloyds Banking Group's previous dividend of $0.1340. This represents a yield of 273.0%. The ex-dividend date is Monday, August 10th. Lloyds Banking Group's payout ratio is currently 39.53%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wall Street Zen raised Lloyds Banking Group from a "hold" rating to a "buy" rating in a research report on Saturday, September 19th. Berenberg Bank started coverage on Lloyds Banking Group in a research note on Wednesday, June 24th. They issued a "hold" rating for the company. Weiss Ratings raised Lloyds Banking Group from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 21st. Citigroup reiterated a "buy" rating on shares of Lloyds Banking Group in a research report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods downgraded Lloyds Banking Group from a "moderate buy" rating to a "hold" rating in a report on Friday, July 17th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

About Lloyds Banking Group

Lloyds Banking Group plc is a major United Kingdom financial services provider whose shares trade on the New York Stock Exchange under the symbol LYG. The group serves individuals, families, small businesses and larger commercial customers through a range of banking, lending, insurance, investment and wealth-management services.

Its principal brands include Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Products and services include current and savings accounts, mortgages, personal loans, credit cards, business banking, commercial lending, investment products, pensions and life insurance.

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