Assetmark Inc. Has $3.14 Million Stock Position in Lloyds Banking Group PLC (NYSE:LYG)

Assetmark Inc. grew its position in Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 28.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 820,717 shares of the financial services provider's stock after purchasing an additional 180,515 shares during the period. Assetmark Inc.'s holdings in Lloyds Banking Group were worth $3,135,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crux Wealth Advisors purchased a new stake in Lloyds Banking Group during the 4th quarter worth approximately $28,000. Focus Partners Wealth bought a new stake in shares of Lloyds Banking Group in the 4th quarter valued at approximately $31,000. Advisor Resource Council bought a new position in Lloyds Banking Group during the 1st quarter worth $37,000. Huntington National Bank grew its stake in Lloyds Banking Group by 282.7% during the 4th quarter. Huntington National Bank now owns 13,787 shares of the financial services provider's stock worth $38,000 after buying an additional 10,184 shares during the last quarter. Finally, SYM FINANCIAL Corp acquired a new position in Lloyds Banking Group during the 1st quarter worth $40,000. 2.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on LYG. Keefe, Bruyette & Woods upgraded Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Wall Street Zen upgraded Lloyds Banking Group from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, JPMorgan Chase & Co. upgraded Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a report on Friday. Four 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 company. According to data from MarketBeat, Lloyds Banking Group presently has a consensus rating of "Moderate Buy".

Lloyds Banking Group Price Performance

Shares of Lloyds Banking Group stock traded up $0.16 during trading on Friday, hitting $4.38. The stock had a trading volume of 27,987,598 shares, compared to its average volume of 8,955,382. Lloyds Banking Group PLC has a fifty-two week low of $2.56 and a fifty-two week high of $4.44. The firm has a market cap of $65.73 billion, a P/E ratio of 10.95, a PEG ratio of 0.67 and a beta of 0.99. 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 business has a fifty day moving average of $4.19 and a two-hundred day moving average of $3.79.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced its earnings results on Thursday, July 24th. The financial services provider reported $0.14 EPS for the quarter, beating 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 business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $4.86 billion. On average, sell-side analysts expect 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. Investors of record on Monday, August 4th will be given a dividend of $0.0655 per share. This represents a yield of 370.0%. The ex-dividend date of this dividend is Monday, August 4th. Lloyds Banking Group's payout ratio is presently 30.00%.

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.