Glenmede Trust Co. NA Has $1.58 Million Stock Holdings in Lloyds Banking Group PLC $LYG

Glenmede Trust Co. NA raised its holdings in Lloyds Banking Group PLC (NYSE:LYG) by 156.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 313,887 shares of the financial services provider’s stock after buying an additional 191,523 shares during the quarter. Glenmede Trust Co. NA’s holdings in Lloyds Banking Group were worth $1,579,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LYG. Assetmark Inc. raised its holdings in Lloyds Banking Group by 24.0% in the 4th quarter. Assetmark Inc. now owns 3,416,144 shares of the financial services provider’s stock valued at $18,106,000 after acquiring an additional 660,256 shares in the last quarter. WCM Investment Management LLC acquired a new position in shares of Lloyds Banking Group in the first quarter valued at $128,228,000. Equitable Trust Co. bought a new position in Lloyds Banking Group in the first quarter worth $1,906,000. PNC Financial Services Group Inc. lifted its position in Lloyds Banking Group by 70.7% in the first quarter. PNC Financial Services Group Inc. now owns 482,149 shares of the financial services provider’s stock worth $2,425,000 after purchasing an additional 199,701 shares during the period. Finally, Cetera Investment Advisers boosted its stake in Lloyds Banking Group by 9.6% during the first quarter. Cetera Investment Advisers now owns 1,970,659 shares of the financial services provider’s stock worth $9,912,000 after buying an additional 172,594 shares in the last quarter. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. 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. Morgan Stanley reissued an “overweight” rating on shares of Lloyds Banking Group in a research report on Tuesday, June 30th. Weiss Ratings lowered Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a report on Friday, July 17th. Finally, Citigroup reissued a “buy” rating on shares of Lloyds Banking Group in a research note on Thursday, July 16th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Lloyds Banking Group Price Performance

Shares of LYG stock opened at $6.25 on Thursday. Lloyds Banking Group PLC has a 1 year low of $4.20 and a 1 year high of $6.34. The company has a current ratio of 1.52, a quick ratio of 0.56 and a debt-to-equity ratio of 2.12. The firm’s 50 day moving average is $5.79 and its 200-day moving average is $5.57. The firm has a market capitalization of $91.12 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 0.62 and a beta of 0.87.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%.The company had revenue of $6.57 billion during the quarter, compared to the consensus estimate of $6.86 billion. Sell-side analysts forecast that Lloyds Banking Group PLC will post 0.54 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, September 25th. Investors of record on Monday, August 10th will be issued a $0.084 dividend. The ex-dividend date is Monday, August 10th. This represents a yield of 272.0%. Lloyds Banking Group’s dividend payout ratio (DPR) is currently 58.14%.

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.