Envestnet Asset Management Inc. Reduces Position in Lloyds Banking Group PLC $LYG

Envestnet Asset Management Inc. trimmed its position in Lloyds Banking Group PLC (NYSE:LYG) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,405,129 shares of the financial services provider’s stock after selling 144,461 shares during the quarter. Envestnet Asset Management Inc. owned 0.06% of Lloyds Banking Group worth $38,159,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Fisher Asset Management LLC increased its position in shares of Lloyds Banking Group by 12.6% in the second quarter. Fisher Asset Management LLC now owns 148,828,623 shares of the financial services provider’s stock valued at $632,522,000 after acquiring an additional 16,705,846 shares during the period. L1 Capital Pty Ltd purchased a new position in Lloyds Banking Group during the 2nd quarter valued at about $548,574,000. First Eagle Investment Management LLC raised its position in Lloyds Banking Group by 9.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 6,816,161 shares of the financial services provider’s stock valued at $28,969,000 after purchasing an additional 612,523 shares during the last quarter. Jane Street Group LLC lifted its holdings in Lloyds Banking Group by 178.3% in the 2nd quarter. Jane Street Group LLC now owns 2,261,115 shares of the financial services provider’s stock worth $9,610,000 after buying an additional 1,448,691 shares during the period. Finally, Assetmark Inc. grew its position in shares of Lloyds Banking Group by 147.2% in the 2nd quarter. Assetmark Inc. now owns 2,028,677 shares of the financial services provider’s stock worth $8,622,000 after buying an additional 1,207,960 shares during the last quarter. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on LYG shares. Morgan Stanley restated an “overweight” rating on shares of Lloyds Banking Group in a report on Monday, November 24th. Wall Street Zen lowered shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a report on Monday, October 20th. BNP Paribas Exane lowered shares of Lloyds Banking Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Citigroup reissued a “neutral” rating on shares of Lloyds Banking Group in a research note on Monday, December 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lloyds Banking Group in a report on Wednesday, January 28th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Stock Down 1.4%

Shares of LYG opened at $5.80 on Wednesday. The stock has a market cap of $85.45 billion, a P/E ratio of 13.81, a P/E/G ratio of 0.59 and a beta of 0.87. The business’s 50 day moving average price is $5.46 and its 200-day moving average price is $4.88. Lloyds Banking Group PLC has a 52 week low of $3.09 and a 52 week high of $6.34.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. Lloyds Banking Group had a return on equity of 10.06% and a net margin of 24.30%.The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.52 billion. On average, equities analysts anticipate that Lloyds Banking Group PLC will post 0.27 EPS for the current year.

Lloyds Banking Group Announces Dividend

The company also recently declared a dividend, which will be paid on Friday, May 29th. Investors of record on Friday, April 10th will be paid a $0.134 dividend. The ex-dividend date is Friday, April 10th. This represents a yield of 447.0%. Lloyds Banking Group’s payout ratio is presently 30.95%.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.