Envestnet Portfolio Solutions Inc. Trims Stock Position in Lloyds Banking Group PLC (NYSE:LYG)

Envestnet Portfolio Solutions Inc. lowered its stake in Lloyds Banking Group PLC (NYSE:LYG) by 52.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 172,972 shares of the financial services provider’s stock after selling 187,699 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Lloyds Banking Group were worth $661,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership lifted its position in Lloyds Banking Group by 11.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 26,669,053 shares of the financial services provider’s stock valued at $72,540,000 after buying an additional 2,713,559 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Lloyds Banking Group by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,404,259 shares of the financial services provider’s stock valued at $44,620,000 after buying an additional 453,326 shares during the last quarter. Northern Trust Corp lifted its position in Lloyds Banking Group by 34.7% in the fourth quarter. Northern Trust Corp now owns 15,604,325 shares of the financial services provider’s stock valued at $42,444,000 after buying an additional 4,021,039 shares during the last quarter. Millennium Management LLC lifted its position in Lloyds Banking Group by 225.0% in the fourth quarter. Millennium Management LLC now owns 7,098,940 shares of the financial services provider’s stock valued at $19,309,000 after buying an additional 4,914,680 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Lloyds Banking Group by 10.1% during the fourth quarter. American Century Companies Inc. now owns 6,611,908 shares of the financial services provider’s stock worth $17,984,000 after purchasing an additional 604,924 shares during the period. Institutional investors and hedge funds own 2.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LYG. Morgan Stanley upgraded shares of Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, March 4th. Wall Street Zen upgraded shares of Lloyds Banking Group from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Hsbc Global Res upgraded shares of Lloyds Banking Group to a “strong-buy” rating in a research note on Thursday, March 20th. HSBC upgraded shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a research note on Tuesday, April 1st. Finally, Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Lloyds Banking Group Stock Up 0.4%

LYG stock opened at $4.20 on Friday. The company’s 50 day moving average price is $4.06 and its 200 day moving average price is $3.52. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.53 and a current ratio of 0.53. Lloyds Banking Group PLC has a fifty-two week low of $2.56 and a fifty-two week high of $4.30. The firm has a market capitalization of $63.18 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 0.88 and a beta of 1.01.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.78 billion. Lloyds Banking Group had a net margin of 14.39% and a return on equity of 8.62%. On average, equities research analysts anticipate that Lloyds Banking Group PLC will post 0.27 EPS for the current fiscal year.

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.