Bard Financial Services Inc. Cuts Stake in Lloyds Banking Group plc (NYSE:LYG)

Bard Financial Services Inc. cut its stake in shares of Lloyds Banking Group plc (NYSE:LYG) by 6.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,268,805 shares of the financial services provider’s stock after selling 157,500 shares during the quarter. Lloyds Banking Group comprises approximately 1.1% of Bard Financial Services Inc.’s investment portfolio, making the stock its 25th biggest holding. Bard Financial Services Inc.’s holdings in Lloyds Banking Group were worth $8,667,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LYG. Breakwater Capital Group boosted its holdings in Lloyds Banking Group by 17.7% in the first quarter. Breakwater Capital Group now owns 21,006 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 3,153 shares during the last quarter. Apollon Wealth Management LLC raised its position in shares of Lloyds Banking Group by 2.8% in the fourth quarter. Apollon Wealth Management LLC now owns 122,641 shares of the financial services provider’s stock worth $334,000 after acquiring an additional 3,346 shares during the period. Independent Advisor Alliance raised its position in shares of Lloyds Banking Group by 4.8% in the fourth quarter. Independent Advisor Alliance now owns 75,049 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 3,420 shares during the period. Rehmann Capital Advisory Group raised its position in shares of Lloyds Banking Group by 9.9% in the fourth quarter. Rehmann Capital Advisory Group now owns 38,339 shares of the financial services provider’s stock worth $104,000 after acquiring an additional 3,451 shares during the period. Finally, OneDigital Investment Advisors LLC raised its position in shares of Lloyds Banking Group by 3.5% during the 4th quarter. OneDigital Investment Advisors LLC now owns 109,799 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 3,728 shares during the last quarter. 2.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Hsbc Global Res upgraded shares of 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. Keefe, Bruyette & Woods downgraded shares of Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 11th. Wall Street Zen upgraded shares of Lloyds Banking Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, HSBC upgraded shares of Lloyds Banking Group from a “hold” rating to a “buy” rating in a report on Tuesday, April 1st. Seven investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Lloyds Banking Group has a consensus rating of “Hold”.

Lloyds Banking Group Price Performance

Shares of NYSE:LYG opened at $4.12 on Wednesday. Lloyds Banking Group plc has a 12 month low of $2.56 and a 12 month high of $4.30. The firm has a market capitalization of $61.87 billion, a P/E ratio of 12.47 and a beta of 1.01. The company’s fifty day moving average price is $3.91 and its 200 day moving average price is $3.40.

Lloyds Banking Group (NYSE:LYG) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. The company had revenue of $5.91 billion for the quarter, compared to the consensus estimate of $4.78 billion. On average, sell-side analysts anticipate that Lloyds Banking Group plc will post 0.27 EPS for the current year.

Lloyds Banking Group Company 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.