Assetmark Inc. Has $12.51 Million Position in Lloyds Banking Group PLC $LYG

Assetmark Inc. raised its position in Lloyds Banking Group PLC (NYSE:LYG) by 35.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,755,888 shares of the financial services provider’s stock after buying an additional 727,211 shares during the quarter. Assetmark Inc.’s holdings in Lloyds Banking Group were worth $12,512,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LYG. Beck Bode LLC bought a new position in shares of Lloyds Banking Group in the second quarter valued at approximately $5,254,000. ABC Arbitrage SA bought a new stake in Lloyds Banking Group in the second quarter worth about $1,689,000. First Eagle Investment Management LLC boosted its stake in Lloyds Banking Group by 9.9% in the second 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 acquiring an additional 612,523 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of Lloyds Banking Group by 430.5% during the 2nd quarter. Quantbot Technologies LP now owns 479,674 shares of the financial services provider’s stock worth $2,039,000 after acquiring an additional 389,255 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in Lloyds Banking Group by 311.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 227,764 shares of the financial services provider’s stock worth $1,034,000 after acquiring an additional 172,422 shares during the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Trading Down 3.7%

Shares of NYSE:LYG opened at $5.61 on Monday. The company has a market cap of $82.58 billion, a price-to-earnings ratio of 13.35, a price-to-earnings-growth ratio of 0.56 and a beta of 0.87. The company has a 50-day moving average price of $5.50 and a 200-day moving average price of $4.91. Lloyds Banking Group PLC has a 12 month low of $3.13 and a 12 month high of $6.34.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. Lloyds Banking Group had a net margin of 24.30% and a return on equity of 10.06%. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.52 billion. As a group, research analysts forecast that Lloyds Banking Group PLC will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Announces Dividend

The firm 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. This represents a dividend yield of 447.0%. The ex-dividend date is Friday, April 10th. Lloyds Banking Group’s dividend payout ratio (DPR) is presently 30.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Lloyds Banking Group in a report on Wednesday, January 28th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Lloyds Banking Group in a research report on Tuesday, October 28th. Wall Street Zen cut Lloyds Banking Group from a “buy” rating to a “hold” rating in a report on Monday, October 20th. Citigroup reiterated a “neutral” rating on shares of Lloyds Banking Group in a research note on Monday, December 1st. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Lloyds Banking Group in a report on Tuesday, February 3rd. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

About Lloyds Banking Group

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.