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

Gibbs Wealth Management increased its position in Lloyds Banking Group PLC (NYSE:LYG) by 324.8% in the first quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of LYG. Tucker Asset Management LLC acquired a new stake in Lloyds Banking Group during the 4th quarter worth $27,000. Cornerstone Planning Group LLC lifted its stake in shares of Lloyds Banking Group by 131.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 5,137 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 2,915 shares during the period. Harbour Investments Inc. boosted its position in shares of Lloyds Banking Group by 47.3% in the 4th quarter. Harbour Investments Inc. now owns 6,386 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 2,051 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Lloyds Banking Group during the fourth quarter worth $35,000. Finally, Manchester Capital Management LLC increased its holdings in Lloyds Banking Group by 1,216.6% in the fourth quarter. Manchester Capital Management LLC now owns 8,163 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 7,543 shares during the last quarter. Institutional investors and hedge funds own 2.15% of the company’s stock.

Lloyds Banking Group Trading Up 0.6%

Shares of NYSE:LYG opened at $6.03 on Friday. The firm has a market cap of $87.77 billion, a price-to-earnings ratio of 13.69, a PEG 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’s fifty day simple moving average is $5.67 and its 200 day simple moving average is $5.53. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.09.

Lloyds Banking Group (NYSE:LYG) last released its earnings results on Tuesday, March 31st. The financial services provider reported $0.13 earnings per share (EPS) 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%. As a group, research analysts forecast that Lloyds Banking Group PLC will post 0.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on LYG. Morgan Stanley restated an “overweight” rating on shares of Lloyds Banking Group in a report on Tuesday, June 30th. Citigroup reaffirmed a “buy” rating on shares of Lloyds Banking Group in a research note on Thursday, July 16th. Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group from a “moderate buy” rating to a “hold” rating in a research note on Friday, July 17th. UBS Group upgraded shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a report on Thursday, April 30th. Finally, Berenberg Bank assumed coverage on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. They issued a “hold” rating for the company. Seven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

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.