Millennium Management LLC Increases Stake in Lloyds Banking Group plc (NYSE:LYG)

Millennium Management LLC increased its holdings in shares of Lloyds Banking Group plc (NYSE:LYG - Free Report) by 225.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,098,940 shares of the financial services provider's stock after acquiring an additional 4,914,680 shares during the period. Millennium Management LLC's holdings in Lloyds Banking Group were worth $19,309,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LYG. Crux Wealth Advisors purchased a new position in Lloyds Banking Group in the fourth quarter worth about $28,000. Brentview Investment Management LLC purchased a new position in Lloyds Banking Group in the fourth quarter worth about $31,000. Focus Partners Wealth purchased a new position in Lloyds Banking Group in the fourth quarter worth about $31,000. Mesirow Financial Investment Management Inc. purchased a new position in Lloyds Banking Group in the fourth quarter worth about $32,000. Finally, SBI Securities Co. Ltd. purchased a new position in Lloyds Banking Group in the fourth quarter worth about $34,000. Institutional investors own 2.15% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Keefe, Bruyette & Woods cut shares of Lloyds Banking Group from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. Wall Street Zen raised shares of Lloyds Banking Group from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. HSBC raised shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a report on Tuesday, April 1st. Morgan Stanley raised shares of Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, March 4th. Finally, Hsbc Global Res raised shares of Lloyds Banking Group to a "strong-buy" rating in a report on Thursday, March 20th. Seven analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Lloyds Banking Group presently has an average rating of "Hold".

Lloyds Banking Group Stock Performance

Shares of LYG remained flat at $4.27 during mid-day trading on Tuesday. 16,886,212 shares of the stock traded hands, compared to its average volume of 17,832,807. The business has a 50-day moving average price of $3.84 and a 200-day moving average price of $3.31. Lloyds Banking Group plc has a 1 year low of $2.56 and a 1 year high of $4.30. The company has a market cap of $64.61 billion, a PE ratio of 12.94 and a beta of 0.97.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. The business had revenue of $5.91 billion during the quarter, compared to analysts' expectations of $4.78 billion. Equities analysts expect that Lloyds Banking Group plc will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Company 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.