Logan Capital Management Inc. Boosts Stake in Lloyds Banking Group PLC $LYG

Logan Capital Management Inc. lifted its holdings in shares of Lloyds Banking Group PLC (NYSE:LYG) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,211,983 shares of the financial services provider’s stock after purchasing an additional 119,491 shares during the quarter. Logan Capital Management Inc.’s holdings in Lloyds Banking Group were worth $5,151,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake 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 worth $220,000 after buying an additional 11,225 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Lloyds Banking Group in the 1st quarter worth approximately $68,000. Perigon Wealth Management LLC boosted its position in shares of Lloyds Banking Group by 4.5% during the 1st quarter. Perigon Wealth Management LLC now owns 61,411 shares of the financial services provider’s stock worth $235,000 after purchasing an additional 2,617 shares during the period. Sequoia Financial Advisors LLC increased its holdings in Lloyds Banking Group by 10.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 75,371 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 7,203 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Lloyds Banking Group by 4.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 123,414 shares of the financial services provider’s stock valued at $470,000 after purchasing an additional 5,576 shares during the period. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings lowered Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Morgan Stanley restated an “overweight” rating on shares of Lloyds Banking Group in a report on Monday, August 4th. Citigroup reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a research report on Monday, September 22nd. 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. Finally, The Goldman Sachs Group upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Lloyds Banking Group currently has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Stock Performance

Shares of LYG opened at $4.70 on Tuesday. Lloyds Banking Group PLC has a 1 year low of $2.56 and a 1 year high of $4.71. The stock has a market capitalization of $69.58 billion, a PE ratio of 13.41, a PEG ratio of 0.64 and a beta of 1.02. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.53 and a current ratio of 0.55. The stock has a 50-day simple moving average of $4.49 and a 200-day simple moving average of $4.25.

Lloyds Banking Group (NYSE:LYG) last released its 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). Lloyds Banking Group had a return on equity of 8.38% and a net margin of 18.04%.The firm had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $5.02 billion. On average, analysts predict 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.