Allspring Global Investments Holdings LLC Increases Stock Position in Lloyds Banking Group PLC $LYG

Allspring Global Investments Holdings LLC boosted its stake in shares of Lloyds Banking Group PLC (NYSE:LYG) by 3.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,650 shares of the financial services provider’s stock after buying an additional 4,236 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lloyds Banking Group were worth $515,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LYG. V Square Quantitative Management LLC purchased a new position in shares of Lloyds Banking Group in the second quarter valued at approximately $29,000. Opal Wealth Advisors LLC purchased a new position in shares of Lloyds Banking Group in the second quarter valued at approximately $35,000. Earned Wealth Advisors LLC purchased a new position in shares of Lloyds Banking Group in the first quarter valued at approximately $38,000. Ameritas Advisory Services LLC purchased a new position in shares of Lloyds Banking Group in the second quarter valued at approximately $38,000. Finally, SYM FINANCIAL Corp purchased a new position in shares of Lloyds Banking Group in the first quarter valued at approximately $40,000. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LYG shares. Wall Street Zen lowered shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a research note on Monday, October 20th. JPMorgan Chase & Co. raised shares of Lloyds Banking Group from an “underweight” rating to a “neutral” rating in a research note on Friday, August 1st. The Goldman Sachs Group upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 5th. Weiss Ratings downgraded shares of Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Lloyds Banking Group currently has an average rating of “Moderate Buy”.

Lloyds Banking Group Stock Up 0.6%

Shares of NYSE:LYG opened at $4.57 on Friday. The company has a market capitalization of $67.66 billion, a PE ratio of 13.04, a P/E/G ratio of 0.63 and a beta of 1.02. The company has a current ratio of 1.44, a quick ratio of 0.53 and a debt-to-equity ratio of 1.68. Lloyds Banking Group PLC has a twelve month low of $2.56 and a twelve month high of $4.69. The firm has a 50 day simple moving average of $4.49 and a 200-day simple moving average of $4.23.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Thursday, October 23rd. The financial services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07). The company had revenue of $6.56 billion for the quarter, compared to analysts’ expectations of $5.02 billion. Lloyds Banking Group had a return on equity of 8.41% and a net margin of 18.04%. On average, equities analysts predict that Lloyds Banking Group PLC will post 0.27 EPS for the current fiscal year.

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.