Beck Bode LLC Buys New Stake in Lloyds Banking Group PLC $LYG

Beck Bode LLC purchased a new position in shares of Lloyds Banking Group PLC (NYSE:LYG) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 1,236,249 shares of the financial services provider’s stock, valued at approximately $5,254,000.

Several other hedge funds also recently made changes to their positions in LYG. Fountainhead AM LLC purchased a new stake in shares of Lloyds Banking Group in the 2nd quarter valued at about $43,000. PFG Advisors increased its position in Lloyds Banking Group by 108.9% during the second quarter. PFG Advisors now owns 27,704 shares of the financial services provider’s stock worth $118,000 after buying an additional 14,443 shares during the period. First Eagle Investment Management LLC lifted its stake in Lloyds Banking Group by 9.9% in the second quarter. First Eagle Investment Management LLC now owns 6,816,161 shares of the financial services provider’s stock valued at $28,969,000 after buying an additional 612,523 shares during the last quarter. Pekin Hardy Strauss Inc. acquired a new stake in shares of Lloyds Banking Group in the second quarter valued at approximately $42,000. Finally, Savant Capital LLC grew its position in shares of Lloyds Banking Group by 53.8% during the second quarter. Savant Capital LLC now owns 71,961 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 25,181 shares during the last quarter. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Trading Up 0.9%

NYSE LYG opened at $5.00 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $74.03 billion, a P/E ratio of 14.27, a P/E/G ratio of 0.65 and a beta of 1.05. Lloyds Banking Group PLC has a 52-week low of $2.56 and a 52-week high of $5.05. The firm has a 50-day moving average price of $4.56 and a 200 day moving average price of $4.33.

Lloyds Banking Group (NYSE:LYG) last released its earnings results on Thursday, October 23rd. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). The business had revenue of $6.56 billion for the quarter, compared to analyst estimates of $5.02 billion. Lloyds Banking Group had a return on equity of 8.38% and a net margin of 18.04%. Equities research analysts expect that Lloyds Banking Group PLC will post 0.27 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on LYG. Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a research report on Monday, August 4th. Citigroup reaffirmed a “neutral” rating on shares of Lloyds Banking Group in a report on Monday, September 22nd. Kepler Capital Markets raised Lloyds Banking Group from a “hold” rating to a “buy” rating in a report on Thursday, October 9th. Wall Street Zen cut Lloyds Banking Group from a “buy” rating to a “hold” rating in a research report on Monday, October 20th. Finally, Zacks Research cut Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

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.