Renaissance Technologies LLC Purchases 6,116,500 Shares of Lloyds Banking Group PLC (NYSE:LYG)

Renaissance Technologies LLC increased its position in Lloyds Banking Group PLC (NYSE:LYG) by 59.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,428,100 shares of the financial services provider’s stock after purchasing an additional 6,116,500 shares during the period. Renaissance Technologies LLC owned 0.09% of Lloyds Banking Group worth $46,656,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Intrust Bank NA boosted its stake in shares of Lloyds Banking Group by 10.9% during the 2nd quarter. Intrust Bank NA now owns 302,145 shares of the financial services provider’s stock worth $858,000 after purchasing an additional 29,719 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Lloyds Banking Group by 0.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,833,458 shares of the financial services provider’s stock valued at $5,207,000 after purchasing an additional 4,938 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in Lloyds Banking Group during the 2nd quarter worth approximately $164,000. Schroder Investment Management Group purchased a new stake in Lloyds Banking Group during the 2nd quarter worth approximately $25,000. Finally, SRS Capital Advisors Inc. purchased a new stake in Lloyds Banking Group during the 2nd quarter worth approximately $50,000. 2.01% of the stock is currently owned by institutional investors.

Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods cut Lloyds Banking Group from a “market perform” rating to an “underperform” rating in a research note on Thursday, September 5th. Deutsche Bank lowered shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a report on Friday, September 6th. JPMorgan Chase & Co. downgraded shares of Lloyds Banking Group from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 16th. Davy Research upgraded shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 28th. Finally, Zacks Investment Research cut shares of Lloyds Banking Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $3.75.

Shares of LYG stock traded down $0.03 on Wednesday, hitting $2.56. 94,309 shares of the stock traded hands, compared to its average volume of 5,630,793. The company’s fifty day moving average is $2.45 and its 200 day moving average is $2.94. Lloyds Banking Group PLC has a 1-year low of $2.30 and a 1-year high of $3.46. The company has a market capitalization of $45.37 billion, a PE ratio of 7.73 and a beta of 1.04. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.49 and a quick ratio of 1.49.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $0.12 EPS for the quarter. Lloyds Banking Group had a net margin of 23.57% and a return on equity of 15.86%. The firm had revenue of $5.99 billion during the quarter. As a group, equities research analysts expect that Lloyds Banking Group PLC will post 0.36 EPS for the current year.

About Lloyds Banking Group

Lloyds Banking Group plc provides banking and financial services under the Lloyds Bank, Halifax, Bank of Scotland, and Scottish Widows brands in the United Kingdom and internationally. It operates through three segments: Retail, Commercial Banking, and Insurance and Wealth. The Retail segment offers a range of financial service products, including current accounts, savings accounts, mortgages, motor finance, unsecured consumer loans, leasing solutions, and credit cards to personal and small business customers.

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Institutional Ownership by Quarter for Lloyds Banking Group (NYSE:LYG)

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