American Century Companies Inc. Acquires 399,866 Shares of Lloyds Banking Group PLC $LYG

Key Points

• American Century Companies Inc. increased its stake in Lloyds Banking Group by 6.0%, acquiring an additional 399,866 shares, bringing its total holdings to 7,011,774 shares valued at approximately $26.8 million.
• Lloyds Banking Group's stock has shown a 1-year range of $2.56 to $4.62, and reported a quarterly earnings per share of $0.14, exceeding expectations significantly.
• The company recently declared a semi-annual dividend of $0.0655, with a payout ratio of 32.5% and a projected annual earnings per share of 0.27 for the current fiscal year.

American Century Companies Inc. lifted its holdings in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 6.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,011,774 shares of the financial services provider's stock after acquiring an additional 399,866 shares during the quarter. American Century Companies Inc.'s holdings in Lloyds Banking Group were worth $26,785,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LYG. Focus Partners Wealth bought a new position in shares of Lloyds Banking Group during the fourth quarter valued at approximately $31,000. Advisor Resource Council purchased a new stake in Lloyds Banking Group in the first quarter worth $37,000. Earned Wealth Advisors LLC purchased a new stake in Lloyds Banking Group in the first quarter worth $38,000. SYM FINANCIAL Corp purchased a new stake in Lloyds Banking Group in the first quarter worth $40,000. Finally, Rainey & Randall Wealth Advisors Inc. purchased a new stake in Lloyds Banking Group in the first quarter worth $41,000. Institutional investors own 2.15% of the company's stock.

Lloyds Banking Group Stock Up 1.0%

LYG stock opened at $4.5950 on Friday. Lloyds Banking Group PLC has a 1-year low of $2.56 and a 1-year high of $4.62. The business has a fifty day moving average price of $4.27 and a 200-day moving average price of $3.94. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.44 and a quick ratio of 0.53. The stock has a market capitalization of $68.77 billion, a P/E ratio of 11.49, a P/E/G ratio of 0.70 and a beta of 1.05.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.04. Lloyds Banking Group had a return on equity of 9.28% and a net margin of 17.51%.The firm had revenue of $6.13 billion during the quarter, compared to analysts' expectations of $4.86 billion. Equities analysts forecast that Lloyds Banking Group PLC will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 4th will be paid a $0.0655 dividend. The ex-dividend date is Monday, August 4th. This represents a dividend yield of 370.0%. Lloyds Banking Group's payout ratio is currently 32.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on LYG shares. Keefe, Bruyette & Woods raised Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. The Goldman Sachs Group raised Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research note on Tuesday, August 5th. Morgan Stanley reaffirmed an "overweight" rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. Wall Street Zen raised Lloyds Banking Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Royal Bank Of Canada raised Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

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.

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