Elevation Point Wealth Partners LLC Lowers Stock Position in Lloyds Banking Group plc (NYSE:LYG)

Elevation Point Wealth Partners LLC lessened its holdings in Lloyds Banking Group plc (NYSE:LYG) by 2.7% during the first quarter, Holdings Channel.com reports. The firm owned 155,177 shares of the financial services provider’s stock after selling 4,232 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Lloyds Banking Group were worth $593,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Defined Wealth Management LLC boosted its holdings in Lloyds Banking Group by 35.3% in the 1st quarter. Defined Wealth Management LLC now owns 17,343 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 4,529 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Lloyds Banking Group by 24.2% in the 1st quarter. GAMMA Investing LLC now owns 57,543 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 11,225 shares in the last quarter. Portside Wealth Group LLC boosted its stake in shares of Lloyds Banking Group by 9.8% during the 1st quarter. Portside Wealth Group LLC now owns 103,316 shares of the financial services provider’s stock worth $395,000 after acquiring an additional 9,264 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Lloyds Banking Group by 65.6% during the 1st quarter. Park Avenue Securities LLC now owns 478,335 shares of the financial services provider’s stock worth $1,827,000 after acquiring an additional 189,458 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in shares of Lloyds Banking Group by 15.4% during the 1st quarter. Sivia Capital Partners LLC now owns 77,154 shares of the financial services provider’s stock worth $295,000 after acquiring an additional 10,318 shares in the last quarter. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Wall Street Analyst Weigh In

LYG has been the topic of several research analyst reports. HSBC raised Lloyds Banking Group from a “hold” rating to a “buy” rating in a research note on Tuesday, April 1st. Hsbc Global Res raised Lloyds Banking Group to a “strong-buy” rating in a research note on Thursday, March 20th. Keefe, Bruyette & Woods lowered Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 11th. Morgan Stanley upgraded Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, March 4th. Finally, Wall Street Zen upgraded Lloyds Banking Group from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Lloyds Banking Group Stock Performance

Shares of LYG opened at $4.18 on Monday. The stock has a fifty day moving average of $3.96 and a two-hundred day moving average of $3.44. The company has a market capitalization of $62.77 billion, a PE ratio of 12.65 and a beta of 1.01. Lloyds Banking Group plc has a fifty-two week low of $2.56 and a fifty-two week high of $4.30.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $5.91 billion during the quarter, compared to the consensus estimate of $4.78 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 forecast that Lloyds Banking Group plc will post 0.27 earnings per share 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.