Lloyds Banking Group plc (NYSE:LYG) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in Lloyds Banking Group plc (NYSE:LYG) by 11.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 117,838 shares of the financial services provider’s stock after buying an additional 12,543 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lloyds Banking Group were worth $316,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aletheian Wealth Advisors LLC purchased a new position in Lloyds Banking Group during the third quarter worth approximately $34,000. Brentview Investment Management LLC bought a new stake in shares of Lloyds Banking Group in the fourth quarter worth $31,000. Simon Quick Advisors LLC bought a new position in shares of Lloyds Banking Group during the fourth quarter worth about $35,000. Cerro Pacific Wealth Advisors LLC bought a new stake in shares of Lloyds Banking Group in the 4th quarter valued at approximately $37,000. Finally, Arkadios Wealth Advisors bought a new position in shares of Lloyds Banking Group in the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Price Performance

Shares of NYSE:LYG opened at $3.56 on Wednesday. The stock has a market cap of $53.99 billion, a price-to-earnings ratio of 10.77 and a beta of 1.31. The stock’s 50 day moving average price is $2.94 and its 200 day moving average price is $2.94. Lloyds Banking Group plc has a 12 month low of $2.25 and a 12 month high of $3.56.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings results on Thursday, February 20th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $4.76 billion. Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. On average, sell-side analysts expect that Lloyds Banking Group plc will post 0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley downgraded Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $2.75.

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.