Lloyds Banking Group PLC $LYG Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC trimmed its holdings in Lloyds Banking Group PLC (NYSE:LYG) by 7.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,450 shares of the financial services provider’s stock after selling 4,622 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Lloyds Banking Group were worth $253,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Wealthstream Advisors Inc. increased its holdings in shares of Lloyds Banking Group by 12.4% in the 2nd quarter. Wealthstream Advisors Inc. now owns 49,660 shares of the financial services provider’s stock valued at $211,000 after acquiring an additional 5,475 shares during the period. Angeles Wealth Management LLC acquired a new position in shares of Lloyds Banking Group in the 2nd quarter valued at $77,000. Sagespring Wealth Partners LLC increased its holdings in shares of Lloyds Banking Group by 22.4% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 54,630 shares of the financial services provider’s stock valued at $232,000 after acquiring an additional 10,003 shares during the period. Naviter Wealth LLC increased its holdings in shares of Lloyds Banking Group by 5.3% in the 2nd quarter. Naviter Wealth LLC now owns 379,011 shares of the financial services provider’s stock valued at $1,611,000 after acquiring an additional 18,993 shares during the period. Finally, Sequoia Financial Advisors LLC increased its stake in Lloyds Banking Group by 8.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 81,683 shares of the financial services provider’s stock valued at $347,000 after buying an additional 6,312 shares during the period. 2.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LYG has been the topic of several recent research reports. The Goldman Sachs Group raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 5th. Citigroup reissued a “neutral” rating on shares of Lloyds Banking Group in a research note on Monday, September 22nd. Kepler Capital Markets raised shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. Weiss Ratings cut shares of Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Finally, Zacks Research cut shares of Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Lloyds Banking Group has an average rating of “Moderate Buy”.

Lloyds Banking Group Price Performance

Shares of NYSE LYG opened at $4.46 on Wednesday. The firm has a market capitalization of $66.03 billion, a P/E ratio of 11.14, a PEG ratio of 0.63 and a beta of 1.02. Lloyds Banking Group PLC has a one year low of $2.56 and a one year high of $4.69. The company’s fifty day moving average is $4.49 and its two-hundred day moving average is $4.21. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.53 and a current ratio of 1.44.

Lloyds Banking Group (NYSE:LYG) last issued its earnings results on Thursday, July 24th. The financial services provider reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. The company had revenue of $6.13 billion for the quarter, compared to analyst estimates of $4.86 billion. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%. Analysts forecast that Lloyds Banking Group PLC will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, September 19th. Shareholders of record on Monday, August 4th were given a dividend of $0.0655 per share. This represents a dividend yield of 370.0%. The ex-dividend date was Monday, August 4th. Lloyds Banking Group’s payout ratio is presently 32.50%.

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.