Wealth Alliance Increases Stock Holdings in Lloyds Banking Group plc (NYSE:LYG)

Wealth Alliance raised its stake in Lloyds Banking Group plc (NYSE:LYG) by 5.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,591 shares of the financial services provider’s stock after purchasing an additional 5,472 shares during the period. Wealth Alliance’s holdings in Lloyds Banking Group were worth $312,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in LYG. Brentview Investment Management LLC purchased a new position in Lloyds Banking Group in the fourth quarter valued at approximately $31,000. Aletheian Wealth Advisors LLC purchased a new position in shares of Lloyds Banking Group during the third quarter worth approximately $34,000. Simon Quick Advisors LLC purchased a new position in shares of Lloyds Banking Group during the fourth quarter worth approximately $35,000. Cerro Pacific Wealth Advisors LLC purchased a new position in shares of Lloyds Banking Group during the fourth quarter worth approximately $37,000. Finally, CIBC Asset Management Inc purchased a new position in shares of Lloyds Banking Group during the fourth quarter worth approximately $38,000. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Lloyds Banking Group Price Performance

Shares of NYSE LYG opened at $3.37 on Friday. The stock has a fifty day moving average price of $2.91 and a 200 day moving average price of $2.93. Lloyds Banking Group plc has a 1-year low of $2.25 and a 1-year high of $3.40. The company has a market cap of $51.11 billion, a PE ratio of 8.63 and a beta of 1.31.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings results on Thursday, February 20th. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). Lloyds Banking Group had a return on equity of 9.81% and a net margin of 10.89%. The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $4.76 billion. Analysts anticipate that Lloyds Banking Group plc will post 0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley lowered shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $2.75.

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.