Axxcess Wealth Management LLC Reduces Position in Lloyds Banking Group PLC $LYG

Axxcess Wealth Management LLC trimmed its position in Lloyds Banking Group PLC (NYSE:LYG) by 71.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,647 shares of the financial services provider’s stock after selling 41,752 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Lloyds Banking Group were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. increased its position in shares of Lloyds Banking Group by 6.1% in the first quarter. Goldman Sachs Group Inc. now owns 24,154,117 shares of the financial services provider’s stock valued at $92,269,000 after acquiring an additional 1,397,163 shares during the period. Envestnet Asset Management Inc. increased its holdings in Lloyds Banking Group by 9.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,492,898 shares of the financial services provider’s stock valued at $40,083,000 after purchasing an additional 863,347 shares during the period. Millennium Management LLC raised its position in Lloyds Banking Group by 15.5% during the 1st quarter. Millennium Management LLC now owns 8,199,299 shares of the financial services provider’s stock valued at $31,321,000 after purchasing an additional 1,100,359 shares during the last quarter. American Century Companies Inc. lifted its holdings in Lloyds Banking Group by 6.0% in the 1st quarter. American Century Companies Inc. now owns 7,011,774 shares of the financial services provider’s stock worth $26,785,000 after buying an additional 399,866 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Lloyds Banking Group by 0.4% during the first quarter. Crossmark Global Holdings Inc. now owns 4,831,997 shares of the financial services provider’s stock valued at $18,458,000 after buying an additional 18,767 shares during the period. Institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Trading Down 0.3%

NYSE:LYG opened at $4.49 on Monday. The firm has a market capitalization of $66.47 billion, a P/E ratio of 11.21, a PEG ratio of 0.63 and a beta of 1.02. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.44 and a quick ratio of 0.53. Lloyds Banking Group PLC has a one year low of $2.56 and a one year high of $4.69. The company’s 50-day simple moving average is $4.49 and its 200 day simple moving average is $4.20.

Lloyds Banking Group (NYSE:LYG) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%. The business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $4.86 billion. As a group, analysts forecast that Lloyds Banking Group PLC will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Friday, September 19th. Stockholders of record on Monday, August 4th were paid a $0.0655 dividend. This represents a dividend yield of 370.0%. The ex-dividend date of this dividend was Monday, August 4th. Lloyds Banking Group’s dividend payout ratio is currently 32.50%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Kepler Capital Markets raised Lloyds Banking Group from a “hold” rating to a “buy” rating in a research note on Thursday, October 9th. Wall Street Zen cut shares of Lloyds Banking Group from a “buy” rating to a “hold” rating in a research report on Monday. Morgan Stanley reiterated an “overweight” rating on shares of Lloyds Banking Group in a research report on Monday, August 4th. Weiss Ratings lowered shares of Lloyds Banking Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada upgraded Lloyds Banking Group from a “sector perform” rating to an “outperform” rating in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

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.