World Asset Management Inc reduced its holdings in shares of Lloyds Banking Group PLC (NYSE:LYG) by 24.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 534,892 shares of the financial services provider’s stock after selling 174,967 shares during the quarter. World Asset Management Inc’s holdings in Lloyds Banking Group were worth $1,781,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Summit Trail Advisors LLC grew its stake in Lloyds Banking Group by 320.9% during the first quarter. Summit Trail Advisors LLC now owns 106,838 shares of the financial services provider’s stock worth $107,000 after buying an additional 81,456 shares during the period. Payden & Rygel purchased a new stake in Lloyds Banking Group during the first quarter worth approximately $108,000. Lake Street Advisors Group LLC purchased a new stake in Lloyds Banking Group during the fourth quarter worth approximately $134,000. Dynamic Technology Lab Private Ltd purchased a new stake in Lloyds Banking Group during the first quarter worth approximately $140,000. Finally, Sawtooth Solutions LLC grew its stake in Lloyds Banking Group by 47.7% during the fourth quarter. Sawtooth Solutions LLC now owns 56,426 shares of the financial services provider’s stock worth $212,000 after buying an additional 18,227 shares during the period. Institutional investors own 2.62% of the company’s stock.
LYG has been the subject of several research reports. UBS Group reiterated a “buy” rating on shares of Lloyds Banking Group in a research note on Tuesday, April 24th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Lloyds Banking Group in a research note on Monday, June 4th. Zacks Investment Research downgraded shares of Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 25th. Finally, ValuEngine downgraded shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Five investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. Lloyds Banking Group has a consensus rating of “Hold” and a consensus price target of $4.25.
Shares of Lloyds Banking Group opened at $3.30 on Friday, MarketBeat Ratings reports. The firm has a market capitalization of $59.46 billion, a PE ratio of 2.36 and a beta of 0.85. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.84. Lloyds Banking Group PLC has a twelve month low of $3.23 and a twelve month high of $4.21.
Lloyds Banking Group (NYSE:LYG) last announced its earnings results on Wednesday, April 25th. The financial services provider reported $0.93 earnings per share for the quarter. The business had revenue of $3.90 billion during the quarter. Lloyds Banking Group had a net margin of 13.63% and a return on equity of 17.72%. research analysts predict that Lloyds Banking Group PLC will post 0.42 EPS for the current year.
Lloyds Banking Group Profile
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. The company 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, and unsecured consumer lending products to personal and small business customers.
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