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

QRG Capital Management Inc. raised its holdings in shares of Lloyds Banking Group plc (NYSE:LYG - Free Report) by 15.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,961,137 shares of the financial services provider's stock after purchasing an additional 255,668 shares during the quarter. QRG Capital Management Inc.'s holdings in Lloyds Banking Group were worth $6,119,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LYG. Transcend Capital Advisors LLC bought a new stake in shares of Lloyds Banking Group in the 2nd quarter valued at approximately $28,000. Interchange Capital Partners LLC bought a new position in shares of Lloyds Banking Group in the 2nd quarter worth about $28,000. Intergy Private Wealth LLC acquired a new position in shares of Lloyds Banking Group in the 2nd quarter valued at about $29,000. Susquehanna International Securities Ltd. bought a new stake in shares of Lloyds Banking Group during the 1st quarter valued at about $30,000. Finally, Tcwp LLC acquired a new stake in Lloyds Banking Group during the second quarter worth about $32,000. 2.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LYG. Royal Bank of Canada lowered Lloyds Banking Group from an "outperform" rating to a "sector perform" rating in a report on Friday, July 26th. Morgan Stanley downgraded shares of Lloyds Banking Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, October 30th. UBS Group reiterated a "neutral" rating on shares of Lloyds Banking Group in a research report on Tuesday, July 30th. Citigroup lowered shares of Lloyds Banking Group from a "buy" rating to a "neutral" rating in a research note on Monday, August 5th. Finally, Kepler Capital Markets assumed coverage on Lloyds Banking Group in a research report on Thursday, September 5th. They set a "hold" rating for the company. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $2.75.

Lloyds Banking Group Price Performance

Shares of NYSE:LYG traded down $0.04 during trading on Wednesday, reaching $2.81. The company had a trading volume of 8,777,298 shares, compared to its average volume of 9,678,393. The firm's fifty day moving average is $3.04 and its 200 day moving average is $2.91. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.48 and a current ratio of 1.45. The firm has a market capitalization of $43.19 billion, a PE ratio of 7.31 and a beta of 1.35. Lloyds Banking Group plc has a twelve month low of $1.99 and a twelve month high of $3.24.

Lloyds Banking Group 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.