Lloyds Banking Group plc (NYSE:LYG) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its position in Lloyds Banking Group plc (NYSE:LYG - Free Report) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,395,541 shares of the financial services provider's stock after selling 159,641 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.08% of Lloyds Banking Group worth $32,848,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LYG. Brentview Investment Management LLC purchased a new stake in Lloyds Banking Group during the 4th quarter valued at about $31,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Lloyds Banking Group during the fourth quarter worth about $32,000. SBI Securities Co. Ltd. purchased a new stake in shares of Lloyds Banking Group during the fourth quarter worth approximately $34,000. Jackson Thornton Wealth Management LLC acquired a new stake in Lloyds Banking Group in the 4th quarter valued at about $34,000. Finally, Simon Quick Advisors LLC acquired a new stake in shares of Lloyds Banking Group in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 2.15% of the company's stock.

Lloyds Banking Group Stock Performance

NYSE LYG traded down $0.16 during trading hours on Thursday, hitting $3.69. 34,470,055 shares of the company's stock were exchanged, compared to its average volume of 14,471,080. Lloyds Banking Group plc has a 12-month low of $2.42 and a 12-month high of $3.91. The business's 50 day moving average is $3.47 and its 200-day moving average is $3.08. The firm has a market capitalization of $55.97 billion, a P/E ratio of 11.17 and a beta of 1.25.

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Lloyds Banking Group (NYSE:LYG - Get Free Report) last posted its earnings results on Thursday, February 20th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.08 by ($0.03). The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $4.76 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 anticipate that Lloyds Banking Group plc will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, April 11th will be issued a $0.1035 dividend. The ex-dividend date of this dividend is Friday, April 11th. This represents a yield of 4%. This is a positive change from Lloyds Banking Group's previous semi-annual dividend of $0.05. Lloyds Banking Group's payout ratio is currently 60.61%.

Wall Street Analyst Weigh In

LYG has been the topic of several recent research reports. Keefe, Bruyette & Woods cut shares of Lloyds Banking Group from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 11th. Hsbc Global Res upgraded Lloyds Banking Group to a "strong-buy" rating in a research report on Thursday, March 20th. Morgan Stanley upgraded shares of Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, March 4th. Finally, HSBC raised shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a research report on Tuesday. Seven analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $2.75.

About Lloyds Banking Group

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.