Pitcairn Co. Buys 5,003 Shares of Lloyds Banking Group plc (NYSE:LYG)

Pitcairn Co. raised its stake in shares of Lloyds Banking Group plc (NYSE:LYG) by 6.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 77,115 shares of the financial services provider’s stock after buying an additional 5,003 shares during the quarter. Pitcairn Co.’s holdings in Lloyds Banking Group were worth $210,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Brentview Investment Management LLC purchased a new stake in Lloyds Banking Group during the 4th quarter valued at about $31,000. Mesirow Financial Investment Management Inc. bought a new position in shares of Lloyds Banking Group in the fourth quarter worth approximately $32,000. SBI Securities Co. Ltd. purchased a new stake in shares of Lloyds Banking Group during the fourth quarter valued at approximately $34,000. Jackson Thornton Wealth Management LLC bought a new stake in shares of Lloyds Banking Group during the fourth quarter valued at approximately $34,000. Finally, Simon Quick Advisors LLC purchased a new position in Lloyds Banking Group in the 4th quarter worth approximately $35,000. 2.15% of the stock is owned by hedge funds and other institutional investors.

Lloyds Banking Group Stock Down 7.8 %

Lloyds Banking Group stock opened at $3.39 on Monday. The business has a 50-day simple moving average of $3.49 and a two-hundred day simple moving average of $3.08. Lloyds Banking Group plc has a 52-week low of $2.42 and a 52-week high of $3.91. The company has a market cap of $51.42 billion, a P/E ratio of 10.26 and a beta of 0.95.

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

Lloyds Banking Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, May 30th. Investors of record on Friday, April 11th will be given a dividend of $0.1035 per share. The ex-dividend date is Friday, April 11th. This is an increase from Lloyds Banking Group’s previous semi-annual dividend of $0.05. This represents a yield of 4%. Lloyds Banking Group’s payout ratio is 60.61%.

Analyst Upgrades and Downgrades

LYG has been the topic of several recent analyst reports. HSBC upgraded Lloyds Banking Group from a “hold” rating to a “buy” rating in a research note on Tuesday, April 1st. Keefe, Bruyette & Woods lowered Lloyds Banking Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 11th. Morgan Stanley raised shares of Lloyds Banking Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 4th. Finally, Hsbc Global Res raised shares of Lloyds Banking Group to a “strong-buy” rating in a report on Thursday, March 20th. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $2.75.

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.