Cetera Investment Advisers Buys 172,594 Shares of Lloyds Banking Group PLC $LYG

Cetera Investment Advisers boosted its stake in Lloyds Banking Group PLC (NYSE:LYG) by 9.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,970,659 shares of the financial services provider’s stock after acquiring an additional 172,594 shares during the period. Cetera Investment Advisers’ holdings in Lloyds Banking Group were worth $9,912,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aureus Asset Management LLC bought a new stake in shares of Lloyds Banking Group in the 1st quarter worth approximately $81,000. Chase Investment Counsel Corp bought a new stake in shares of Lloyds Banking Group in the first quarter valued at $126,000. CacheTech Inc. purchased a new position in shares of Lloyds Banking Group during the 1st quarter valued at $142,000. PNC Financial Services Group Inc. grew its stake in shares of Lloyds Banking Group by 70.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 482,149 shares of the financial services provider’s stock worth $2,425,000 after acquiring an additional 199,701 shares during the period. Finally, Earned Wealth Advisors LLC increased its holdings in Lloyds Banking Group by 30.1% in the 1st quarter. Earned Wealth Advisors LLC now owns 17,385 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 4,025 shares during the last quarter. 2.15% of the stock is owned by institutional investors.

Lloyds Banking Group Trading Up 6.2%

Shares of LYG opened at $6.24 on Friday. Lloyds Banking Group PLC has a twelve month low of $4.05 and a twelve month high of $6.34. The stock has a market cap of $90.83 billion, a PE ratio of 14.17, a P/E/G ratio of 0.61 and a beta of 0.87. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.09. The business’s 50-day moving average price is $5.73 and its 200-day moving average price is $5.55.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The firm had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.86 billion. Lloyds Banking Group had a net margin of 25.11% and a return on equity of 10.63%. On average, equities analysts forecast that Lloyds Banking Group PLC will post 0.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LYG. Citigroup restated a “buy” rating on shares of Lloyds Banking Group in a research note on Thursday, July 16th. Weiss Ratings downgraded shares of Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Wall Street Zen lowered shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Berenberg Bank initiated coverage on shares of Lloyds Banking Group in a report on Wednesday, June 24th. They issued a “hold” rating for the company. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a research note on Tuesday, June 30th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Lloyds Banking Group 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.