CIBC Asset Management Inc Acquires New Holdings in Lloyds Banking Group plc (NYSE:LYG)

CIBC Asset Management Inc acquired a new stake in shares of Lloyds Banking Group plc (NYSE:LYG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 14,131 shares of the financial services provider’s stock, valued at approximately $38,000.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in Lloyds Banking Group by 58.5% during the third quarter. JPMorgan Chase & Co. now owns 6,659,629 shares of the financial services provider’s stock valued at $20,778,000 after acquiring an additional 2,456,914 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Lloyds Banking Group during the third quarter valued at approximately $1,035,000. US Bancorp DE grew its stake in Lloyds Banking Group by 36.6% during the third quarter. US Bancorp DE now owns 757,336 shares of the financial services provider’s stock valued at $2,363,000 after acquiring an additional 202,862 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Lloyds Banking Group by 20.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,055,584 shares of the financial services provider’s stock worth $3,293,000 after buying an additional 180,178 shares in the last quarter. Finally, Citigroup Inc. grew its stake in Lloyds Banking Group by 58.3% in the 3rd quarter. Citigroup Inc. now owns 1,703,943 shares of the financial services provider’s stock worth $5,316,000 after buying an additional 627,592 shares in the last quarter. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley cut shares of Lloyds Banking Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, October 30th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $2.75.

Lloyds Banking Group Price Performance

LYG stock opened at $3.66 on Thursday. Lloyds Banking Group plc has a one year low of $2.29 and a one year high of $3.70. The stock has a market cap of $55.65 billion, a PE ratio of 11.10 and a beta of 1.31. The firm has a 50 day simple moving average of $2.96 and a two-hundred day simple moving average of $2.95.

Lloyds Banking Group (NYSE:LYG) last announced its quarterly earnings data on Thursday, February 20th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The business had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $4.76 billion. Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. On average, research analysts expect that Lloyds Banking Group plc will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group 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.