Portside Wealth Group LLC Buys 9,264 Shares of Lloyds Banking Group plc (NYSE:LYG)

Portside Wealth Group LLC grew its stake in Lloyds Banking Group plc (NYSE:LYG) by 9.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,316 shares of the financial services provider’s stock after purchasing an additional 9,264 shares during the quarter. Portside Wealth Group LLC’s holdings in Lloyds Banking Group were worth $395,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LYG. Park Avenue Securities LLC lifted its holdings in Lloyds Banking Group by 65.6% during the first quarter. Park Avenue Securities LLC now owns 478,335 shares of the financial services provider’s stock worth $1,827,000 after acquiring an additional 189,458 shares during the period. Sivia Capital Partners LLC lifted its holdings in Lloyds Banking Group by 15.4% during the first quarter. Sivia Capital Partners LLC now owns 77,154 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 10,318 shares during the period. Alliance Wealth Advisors LLC lifted its holdings in Lloyds Banking Group by 6.2% during the first quarter. Alliance Wealth Advisors LLC now owns 66,417 shares of the financial services provider’s stock worth $254,000 after acquiring an additional 3,890 shares during the period. Procyon Advisors LLC lifted its holdings in Lloyds Banking Group by 38.1% during the first quarter. Procyon Advisors LLC now owns 42,042 shares of the financial services provider’s stock worth $161,000 after acquiring an additional 11,588 shares during the period. Finally, Breakwater Capital Group lifted its holdings in Lloyds Banking Group by 17.7% during the first quarter. Breakwater Capital Group now owns 21,006 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 3,153 shares during the period. Institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Trading Down 2.0%

NYSE LYG opened at $4.12 on Wednesday. Lloyds Banking Group plc has a 1-year low of $2.56 and a 1-year high of $4.30. The stock has a 50-day moving average of $3.91 and a 200-day moving average of $3.40. The firm has a market cap of $61.87 billion, a PE ratio of 12.47 and a beta of 1.01.

Lloyds Banking Group (NYSE:LYG) last released its earnings results on Thursday, May 1st. The financial services provider reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. The company had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.78 billion. As a group, equities research analysts forecast that Lloyds Banking Group plc will post 0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen upgraded Lloyds Banking Group from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods lowered Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Hsbc Global Res upgraded Lloyds Banking Group to a “strong-buy” rating in a research note on Thursday, March 20th. HSBC upgraded Lloyds Banking Group from a “hold” rating to a “buy” rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley upgraded Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lloyds Banking Group presently has a consensus rating of “Hold”.

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.