CIBC Private Wealth Group LLC Cuts Position in Lloyds Banking Group plc (NYSE:LYG)

CIBC Private Wealth Group LLC decreased its holdings in Lloyds Banking Group plc (NYSE:LYG – Get Rating) by 0.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 14,376,032 shares of the financial services provider’s stock after selling 106,407 shares during the period. CIBC Private Wealth Group LLC’s holdings in Lloyds Banking Group were worth $25,733,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Jane Street Group LLC raised its holdings in Lloyds Banking Group by 22.6% in the third quarter. Jane Street Group LLC now owns 31,629,929 shares of the financial services provider’s stock valued at $56,618,000 after buying an additional 5,838,073 shares during the period. Bank of Montreal Can grew its position in Lloyds Banking Group by 26.0% in the third quarter. Bank of Montreal Can now owns 22,183,022 shares of the financial services provider’s stock valued at $40,595,000 after acquiring an additional 4,570,940 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Lloyds Banking Group by 6.4% in the second quarter. Goldman Sachs Group Inc. now owns 18,613,240 shares of the financial services provider’s stock valued at $37,971,000 after acquiring an additional 1,119,332 shares in the last quarter. FMR LLC grew its position in Lloyds Banking Group by 12.5% in the second quarter. FMR LLC now owns 14,614,456 shares of the financial services provider’s stock valued at $29,814,000 after acquiring an additional 1,623,899 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Lloyds Banking Group by 1.8% in the third quarter. Dimensional Fund Advisors LP now owns 14,423,379 shares of the financial services provider’s stock valued at $25,833,000 after acquiring an additional 261,281 shares in the last quarter. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Analyst Ratings Changes

LYG has been the subject of several recent research reports. StockNews.com raised shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a research report on Friday, February 24th. Royal Bank of Canada raised shares of Lloyds Banking Group from an “underperform” rating to an “outperform” rating in a research report on Friday, November 25th. JPMorgan Chase & Co. increased their price objective on shares of Lloyds Banking Group from GBX 58 ($0.71) to GBX 61 ($0.74) in a research report on Monday, February 27th. Morgan Stanley raised their price target on shares of Lloyds Banking Group from GBX 58 ($0.71) to GBX 60 ($0.73) in a research report on Wednesday, January 11th. Finally, Barclays raised shares of Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research report on Monday, February 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lloyds Banking Group presently has a consensus rating of “Hold” and a consensus price target of $58.75.

Lloyds Banking Group Stock Up 2.2 %

LYG stock opened at $2.30 on Wednesday. Lloyds Banking Group plc has a twelve month low of $1.70 and a twelve month high of $2.64. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $38.75 billion, a P/E ratio of 6.22, a PEG ratio of 1.04 and a beta of 1.29. The firm has a 50 day simple moving average of $2.46 and a 200-day simple moving average of $2.20.

Lloyds Banking Group Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, April 14th will be issued a $0.076 dividend. The ex-dividend date is Thursday, April 13th. This is an increase from Lloyds Banking Group’s previous Semi-Annual dividend of $0.04. Lloyds Banking Group’s payout ratio is currently 18.92%.

About Lloyds Banking Group

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Lloyds Banking Group Plc is a financial services company, which engages in the provision of banking and financial services. It operates through the following segments: Retail, Commercial Banking, Insurance and Wealth, and Other. The Retail segment offers broad range of financial service products, including current accounts, savings, mortgages, motor finance and unsecured consumer lending to personal, and small business customers.