Gibbs Wealth Management Has $608,000 Stock Holdings in Lloyds Banking Group PLC $LYG

Gibbs Wealth Management raised its position in Lloyds Banking Group PLC (NYSE:LYG) by 324.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,811 shares of the financial services provider’s stock after acquiring an additional 92,371 shares during the period. Gibbs Wealth Management’s holdings in Lloyds Banking Group were worth $608,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. WCM Investment Management LLC acquired a new position in shares of Lloyds Banking Group in the first quarter valued at $128,228,000. Janney Montgomery Scott LLC boosted its stake in Lloyds Banking Group by 2,413.7% during the first quarter. Janney Montgomery Scott LLC now owns 3,113,464 shares of the financial services provider’s stock worth $15,661,000 after buying an additional 2,989,604 shares in the last quarter. UBS Group AG boosted its stake in Lloyds Banking Group by 53.9% during the third quarter. UBS Group AG now owns 6,614,695 shares of the financial services provider’s stock worth $30,031,000 after buying an additional 2,317,927 shares in the last quarter. Jane Street Group LLC increased 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 valued at $9,610,000 after buying an additional 1,448,691 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Lloyds Banking Group by 17.4% in the 3rd quarter. Millennium Management LLC now owns 8,815,679 shares of the financial services provider’s stock valued at $40,023,000 after buying an additional 1,309,359 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LYG shares. Wall Street Zen cut shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings downgraded Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods lowered Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a research note on Friday, July 17th. Citigroup reissued a “buy” rating on shares of Lloyds Banking Group in a report on Thursday, July 16th. Finally, Berenberg Bank assumed coverage on Lloyds Banking Group in a research note on Wednesday, June 24th. They issued a “hold” rating on the stock. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Lloyds Banking Group Price Performance

NYSE:LYG opened at $6.03 on Friday. The firm has a market cap of $87.77 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.62 and a beta of 0.87. Lloyds Banking Group PLC has a 12 month low of $4.05 and a 12 month high of $6.34. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.09. The company’s 50-day moving average price is $5.67 and its two-hundred day moving average price is $5.53.

Lloyds Banking Group (NYSE:LYG) last released its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.13 earnings per share for the quarter. The firm had revenue of $6.87 billion during the quarter. Lloyds Banking Group had a return on equity of 10.63% and a net margin of 25.11%. On average, equities analysts anticipate that Lloyds Banking Group PLC will post 0.53 EPS for the current fiscal year.

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.