Lloyds Banking Group plc (NYSE:LYG) Stock Position Raised by Naviter Wealth LLC

Naviter Wealth LLC boosted its holdings in Lloyds Banking Group plc (NYSE:LYG) by 6.9% during the second quarter, HoldingsChannel.com reports. The fund owned 379,401 shares of the financial services provider’s stock after acquiring an additional 24,543 shares during the period. Naviter Wealth LLC’s holdings in Lloyds Banking Group were worth $1,036,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC boosted its stake in Lloyds Banking Group by 2.8% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 135,436 shares of the financial services provider’s stock valued at $370,000 after purchasing an additional 3,752 shares during the period. AMG National Trust Bank boosted its position in shares of Lloyds Banking Group by 0.4% during the second quarter. AMG National Trust Bank now owns 1,001,075 shares of the financial services provider’s stock worth $2,733,000 after buying an additional 3,976 shares during the period. Bruce G. Allen Investments LLC boosted its position in shares of Lloyds Banking Group by 6.9% during the first quarter. Bruce G. Allen Investments LLC now owns 61,412 shares of the financial services provider’s stock worth $159,000 after buying an additional 3,986 shares during the period. Brookstone Capital Management grew its holdings in Lloyds Banking Group by 12.1% in the 1st quarter. Brookstone Capital Management now owns 38,516 shares of the financial services provider’s stock worth $100,000 after buying an additional 4,167 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in Lloyds Banking Group by 7.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 61,586 shares of the financial services provider’s stock valued at $168,000 after acquiring an additional 4,194 shares during the period. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on LYG. Deutsche Bank Aktiengesellschaft started coverage on Lloyds Banking Group in a research note on Thursday, May 9th. They issued a “buy” rating for the company. Royal Bank of Canada downgraded shares of Lloyds Banking Group from an “outperform” rating to a “sector perform” rating in a report on Friday, July 26th. BNP Paribas raised shares of Lloyds Banking Group from a “neutral” rating to an “outperform” rating in a research note on Friday, July 5th. Citigroup lowered shares of Lloyds Banking Group from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. Finally, UBS Group reiterated a “neutral” rating on shares of Lloyds Banking Group in a report on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $32.38.

Lloyds Banking Group Price Performance

NYSE:LYG opened at $2.96 on Wednesday. Lloyds Banking Group plc has a 52-week low of $1.88 and a 52-week high of $3.14. The company has a quick ratio of 1.48, a current ratio of 1.45 and a debt-to-equity ratio of 1.89. The firm has a market cap of $46.26 billion, a P/E ratio of 7.79 and a beta of 1.35. The business’s 50-day moving average price is $2.96 and its 200 day moving average price is $2.73.

Lloyds Banking Group (NYSE:LYG) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.09 EPS for the quarter. The business had revenue of $9.55 billion for the quarter. Lloyds Banking Group had a net margin of 12.40% and a return on equity of 10.34%. As a group, sell-side analysts predict that Lloyds Banking Group plc will post 0.32 earnings per share for the current fiscal year.

Lloyds Banking Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, September 20th. Stockholders of record on Monday, August 5th will be given a dividend of $0.0546 per share. This represents a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, August 5th. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. Lloyds Banking Group’s dividend payout ratio is 26.32%.

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.