CIBC Private Wealth Group LLC Lowers Stock Holdings in Lloyds Banking Group plc (NYSE:LYG)

CIBC Private Wealth Group LLC reduced its position in Lloyds Banking Group plc (NYSE:LYG) by 1.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 12,395,541 shares of the financial services provider’s stock after selling 159,641 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.08% of Lloyds Banking Group worth $32,848,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Brentview Investment Management LLC purchased a new stake in shares of Lloyds Banking Group in the 4th quarter worth about $31,000. Mesirow Financial Investment Management Inc. purchased a new position in Lloyds Banking Group during the fourth quarter worth approximately $32,000. SBI Securities Co. Ltd. acquired a new position in shares of Lloyds Banking Group in the 4th quarter valued at about $34,000. Jackson Thornton Wealth Management LLC purchased a new position in Lloyds Banking Group in the 4th quarter worth approximately $34,000. Finally, Simon Quick Advisors LLC bought a new stake in shares of Lloyds Banking Group in the 4th quarter worth about $35,000. 2.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LYG shares. Hsbc Global Res raised Lloyds Banking Group to a “strong-buy” rating in a research report on Thursday, March 20th. Morgan Stanley upgraded Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods cut Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.75.

Lloyds Banking Group Price Performance

NYSE:LYG opened at $3.84 on Monday. The company has a fifty day moving average price of $3.42 and a 200 day moving average price of $3.06. Lloyds Banking Group plc has a one year low of $2.42 and a one year high of $3.91. The stock has a market cap of $58.25 billion, a P/E ratio of 11.62 and a beta of 1.25.

Lloyds Banking Group (NYSE:LYG) last released its earnings results on Thursday, February 20th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The firm had revenue of $9.46 billion for the quarter, compared to analyst estimates of $4.76 billion. Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. As a group, equities research analysts anticipate that Lloyds Banking Group plc will post 0.27 EPS for the current year.

Lloyds Banking Group Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, May 30th. Investors of record on Friday, April 11th will be given a $0.1035 dividend. This is a boost from Lloyds Banking Group’s previous semi-annual dividend of $0.05. This represents a yield of 4%. The ex-dividend date of this dividend is Friday, April 11th. Lloyds Banking Group’s dividend payout ratio (DPR) is 60.61%.

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.