QRG Capital Management Inc. Acquires 255,668 Shares of Lloyds Banking Group plc (NYSE:LYG)

QRG Capital Management Inc. lifted its holdings in Lloyds Banking Group plc (NYSE:LYG) by 15.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,961,137 shares of the financial services provider’s stock after acquiring an additional 255,668 shares during the period. QRG Capital Management Inc.’s holdings in Lloyds Banking Group were worth $6,119,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in LYG. Mondrian Investment Partners LTD increased its position in Lloyds Banking Group by 39.2% in the 1st quarter. Mondrian Investment Partners LTD now owns 89,948,537 shares of the financial services provider’s stock valued at $232,967,000 after buying an additional 25,351,270 shares in the last quarter. Clearbridge Investments LLC bought a new stake in Lloyds Banking Group in the 2nd quarter valued at about $36,252,000. Envestnet Asset Management Inc. increased its position in Lloyds Banking Group by 49.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 8,577,101 shares of the financial services provider’s stock valued at $23,415,000 after buying an additional 2,841,956 shares in the last quarter. American Century Companies Inc. increased its position in Lloyds Banking Group by 17.2% in the 2nd quarter. American Century Companies Inc. now owns 5,472,171 shares of the financial services provider’s stock valued at $14,939,000 after buying an additional 804,035 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its position in Lloyds Banking Group by 25.3% in the 2nd quarter. First Eagle Investment Management LLC now owns 5,087,379 shares of the financial services provider’s stock valued at $13,889,000 after buying an additional 1,026,639 shares in the last quarter. 2.15% of the stock is owned by institutional investors.

Lloyds Banking Group Stock Up 0.7 %

Shares of NYSE:LYG opened at $2.85 on Wednesday. The stock’s 50-day moving average price is $3.04 and its 200-day moving average price is $2.91. Lloyds Banking Group plc has a 12-month low of $1.99 and a 12-month high of $3.24. The stock has a market capitalization of $43.81 billion, a P/E ratio of 7.31 and a beta of 1.35. The company has a current ratio of 1.45, a quick ratio of 1.48 and a debt-to-equity ratio of 1.76.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. The Goldman Sachs Group assumed coverage on Lloyds Banking Group in a research note on Friday, October 4th. They set a “neutral” rating for the company. Royal Bank of Canada downgraded Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 26th. Morgan Stanley downgraded Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. Kepler Capital Markets started coverage on Lloyds Banking Group in a research note on Thursday, September 5th. They issued a “hold” rating on the stock. Finally, Citigroup downgraded Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Lloyds Banking Group has an average rating of “Hold” and a consensus price target of $2.75.

About Lloyds Banking Group

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.