PNC Financial Services Group Inc. Sells 1,836,021 Shares of Lloyds Banking Group plc (NYSE:LYG)

PNC Financial Services Group Inc. lowered its stake in shares of Lloyds Banking Group plc (NYSE:LYG) by 87.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 253,216 shares of the financial services provider’s stock after selling 1,836,021 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lloyds Banking Group were worth $605,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LYG. Naples Money Management LLC bought a new stake in Lloyds Banking Group in the 4th quarter valued at $25,000. TCG Advisory Services LLC bought a new stake in Lloyds Banking Group in the 4th quarter valued at $25,000. Atria Wealth Solutions Inc. bought a new stake in Lloyds Banking Group in the 4th quarter valued at $26,000. D Orazio & Associates Inc. bought a new stake in Lloyds Banking Group in the 4th quarter valued at $26,000. Finally, Riversedge Advisors LLC bought a new stake in Lloyds Banking Group in the 4th quarter valued at $27,000. Institutional investors own 2.15% of the company’s stock.

Analyst Upgrades and Downgrades

LYG has been the topic of several analyst reports. Bank of America raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, March 21st. Berenberg Bank began coverage on shares of Lloyds Banking Group in a report on Thursday, April 25th. They issued a “hold” rating and a $2.75 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Lloyds Banking Group in a report on Thursday, May 9th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.55.

Lloyds Banking Group Stock Up 0.4 %

Shares of NYSE LYG opened at $2.78 on Thursday. The firm’s 50-day simple moving average is $2.71 and its 200 day simple moving average is $2.47. The company has a market cap of $43.70 billion, a price-to-earnings ratio of 7.32, a price-to-earnings-growth ratio of 1.17 and a beta of 1.33. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.82. Lloyds Banking Group plc has a 12-month low of $1.88 and a 12-month high of $2.87.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.09 earnings per share (EPS) for the quarter. The business had revenue of $14.35 billion for the quarter. Lloyds Banking Group had a net margin of 13.41% and a return on equity of 10.35%. On average, research analysts expect that Lloyds Banking Group plc will post 0.32 earnings per share for the current fiscal year.

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.