Bank of America Corp DE lessened its position in shares of Lloyds Banking Group plc (NYSE:LYG - Free Report) by 21.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,114,348 shares of the financial services provider's stock after selling 3,104,353 shares during the quarter. Bank of America Corp DE owned about 0.07% of Lloyds Banking Group worth $30,231,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Crux Wealth Advisors bought a new position in Lloyds Banking Group in the fourth quarter valued at $28,000. Brentview Investment Management LLC acquired a new stake in shares of Lloyds Banking Group during the fourth quarter worth $31,000. Mesirow Financial Investment Management Inc. bought a new position in shares of Lloyds Banking Group during the fourth quarter worth approximately $32,000. SBI Securities Co. Ltd. bought a new stake in shares of Lloyds Banking Group during the 4th quarter valued at $34,000. Finally, Jackson Thornton Wealth Management LLC bought a new position in Lloyds Banking Group in the 4th quarter valued at about $34,000. 2.15% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 11th. Morgan Stanley upgraded Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, March 4th. Hsbc Global Res raised Lloyds Banking Group to a "strong-buy" rating in a research note on Thursday, March 20th. HSBC upgraded shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a research report on Tuesday, April 1st. Finally, StockNews.com upgraded shares of Lloyds Banking Group from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Seven equities research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold".
View Our Latest Analysis on Lloyds Banking Group
Lloyds Banking Group Stock Up 0.6%
NYSE:LYG traded up $0.03 during trading hours on Thursday, reaching $4.23. The company had a trading volume of 4,091,444 shares, compared to its average volume of 17,600,689. Lloyds Banking Group plc has a twelve month low of $2.56 and a twelve month high of $4.26. The firm has a market cap of $63.93 billion, a price-to-earnings ratio of 12.80 and a beta of 0.97. The business's 50-day simple moving average is $3.79 and its two-hundred day simple moving average is $3.26.
Lloyds Banking Group (NYSE:LYG - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.03. The business had revenue of $5.91 billion during the quarter, compared to analyst estimates of $4.78 billion. Lloyds Banking Group had a return on equity of 8.46% and a net margin of 11.45%. As a group, equities analysts predict that Lloyds Banking Group plc will post 0.27 earnings per share for the current year.
Lloyds Banking Group Increases Dividend
The company also recently announced a semi-annual dividend, which will be paid on Friday, May 30th. Investors of record on Friday, April 11th will be issued a $0.1035 dividend. This is a boost from Lloyds Banking Group's previous semi-annual dividend of $0.05. This represents a dividend yield of 4%. The ex-dividend date is Friday, April 11th. Lloyds Banking Group's dividend payout ratio (DPR) is currently 57.14%.
Lloyds Banking Group Company Profile
(
Free Report)
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.
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