Elevation Point Wealth Partners LLC Raises Stock Holdings in Lloyds Banking Group PLC $LYG

Elevation Point Wealth Partners LLC boosted its stake in shares of Lloyds Banking Group PLC (NYSE:LYG) by 360.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 365,056 shares of the financial services provider’s stock after buying an additional 285,692 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Lloyds Banking Group were worth $1,836,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. CIBC Bancorp USA Inc. acquired a new stake in Lloyds Banking Group in the 3rd quarter valued at approximately $63,928,000. Janney Montgomery Scott LLC boosted its position in shares of 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 during the period. UBS Group AG boosted its position in shares of 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 during the period. Jane Street Group LLC grew its stake in shares of Lloyds Banking Group by 178.3% in the second 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 in the last quarter. Finally, Millennium Management LLC raised its holdings 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 during the period. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on LYG. UBS Group upgraded Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, April 30th. Berenberg Bank started coverage on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. They set a “hold” rating on the stock. Wall Street Zen lowered shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings cut shares of Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Lloyds Banking Group in a research note on Tuesday, June 30th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Lloyds Banking Group Stock Up 0.1%

LYG stock opened at $6.07 on Monday. The company’s 50 day moving average price is $5.45 and its 200 day moving average price is $5.45. The firm has a market capitalization of $88.70 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 0.61 and a beta of 0.87. Lloyds Banking Group PLC has a fifty-two week low of $4.05 and a fifty-two week high of $6.34. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.56 and a current ratio of 0.56.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings results on Tuesday, March 31st. The financial services provider reported $0.13 earnings per share (EPS) for the quarter. Lloyds Banking Group had a net margin of 25.11% and a return on equity of 10.63%. The company had revenue of $6.87 billion during the quarter. On average, equities research 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.