Janney Montgomery Scott LLC Purchases 2,989,604 Shares of Lloyds Banking Group PLC $LYG

Janney Montgomery Scott LLC boosted its holdings in shares of Lloyds Banking Group PLC (NYSE:LYG) by 2,413.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,113,464 shares of the financial services provider’s stock after acquiring an additional 2,989,604 shares during the period. Janney Montgomery Scott LLC’s holdings in Lloyds Banking Group were worth $15,661,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tucker Asset Management LLC acquired a new stake in shares of Lloyds Banking Group during the fourth quarter worth about $27,000. Harbour Investments Inc. increased its stake in Lloyds Banking Group by 47.3% during the 4th quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 2,051 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in Lloyds Banking Group during the 4th quarter worth approximately $35,000. Manchester Capital Management LLC raised its holdings in Lloyds Banking Group by 1,216.6% during the 4th quarter. Manchester Capital Management LLC now owns 8,163 shares of the financial services provider’s stock worth $43,000 after buying an additional 7,543 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in Lloyds Banking Group by 162.2% in the first quarter. Geneos Wealth Management Inc. now owns 11,724 shares of the financial services provider’s stock valued at $45,000 after buying an additional 7,253 shares in the last quarter. 2.15% of the stock is owned by institutional investors and hedge funds.

Lloyds Banking Group Stock Performance

NYSE:LYG opened at $5.83 on Wednesday. The company has a market cap of $85.33 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.58 and a beta of 0.87. Lloyds Banking Group PLC has a fifty-two week low of $3.98 and a fifty-two week high of $6.34. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day moving average price of $5.42 and a 200-day moving average price of $5.43.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.13 EPS for the quarter. The business had revenue of $6.87 billion during the quarter. Lloyds Banking Group had a return on equity of 10.63% and a net margin of 25.11%. As a group, equities analysts anticipate that Lloyds Banking Group PLC will post 0.53 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LYG shares. Citigroup restated a “buy” rating on shares of Lloyds Banking Group in a report on Thursday, April 30th. UBS Group upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, April 30th. Morgan Stanley reissued an “overweight” rating on shares of Lloyds Banking Group in a research note on Tuesday. Weiss Ratings cut Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Finally, Berenberg Bank started coverage on Lloyds Banking Group in a report on Wednesday, June 24th. They set a “hold” rating for the company. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

About Lloyds Banking Group

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.