QRG Capital Management Inc. Purchases 18,232 Shares of Lloyds Banking Group plc (NYSE:LYG)

QRG Capital Management Inc. lifted its position in Lloyds Banking Group plc (NYSE:LYG) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,390,985 shares of the financial services provider’s stock after acquiring an additional 18,232 shares during the quarter. QRG Capital Management Inc.’s holdings in Lloyds Banking Group were worth $9,134,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Sagespring Wealth Partners LLC bought a new stake in shares of Lloyds Banking Group in the 1st quarter worth $170,000. Sowell Financial Services LLC bought a new position in Lloyds Banking Group during the first quarter valued at about $44,000. Tritonpoint Wealth LLC grew its position in Lloyds Banking Group by 26.8% during the first quarter. Tritonpoint Wealth LLC now owns 14,590 shares of the financial services provider’s stock valued at $56,000 after buying an additional 3,082 shares during the period. Defined Wealth Management LLC grew its position in Lloyds Banking Group by 35.3% during the first quarter. Defined Wealth Management LLC now owns 17,343 shares of the financial services provider’s stock valued at $66,000 after buying an additional 4,529 shares during the period. Finally, GAMMA Investing LLC grew its position in Lloyds Banking Group by 24.2% during the first quarter. GAMMA Investing LLC now owns 57,543 shares of the financial services provider’s stock valued at $220,000 after buying an additional 11,225 shares during the period. Institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Stock Up 0.4%

LYG opened at $4.21 on Tuesday. The company has a market capitalization of $63.23 billion, a price-to-earnings ratio of 12.74 and a beta of 1.01. The firm has a 50-day moving average price of $3.98 and a 200-day moving average price of $3.45. Lloyds Banking Group plc has a twelve month low of $2.56 and a twelve month high of $4.30.

Lloyds Banking Group (NYSE:LYG) last posted its earnings results on Thursday, May 1st. The financial services provider reported $0.11 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.78 billion. On average, sell-side analysts expect that Lloyds Banking Group plc will post 0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. HSBC upgraded shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a research report on Tuesday, April 1st. Hsbc Global Res upgraded shares of Lloyds Banking Group to a “strong-buy” rating in a research report on Thursday, March 20th. Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Morgan Stanley upgraded shares of Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. Finally, Wall Street Zen upgraded shares of Lloyds Banking Group from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

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.