Bard Financial Services Inc. Trims Stock Holdings in Lloyds Banking Group PLC $LYG

Key Points

• Bard Financial Services Inc. has reduced its holdings in Lloyds Banking Group PLC by 9.5%, selling 215,700 shares and retaining 2,053,105 shares, which represent about 1.0% of its portfolio.
• Several institutional investors have recently initiated new positions in Lloyds Banking Group, with cumulative investments ranging from approximately $31,000 to $41,000.
• Analysts have upgraded Lloyds Banking Group's stock ratings, with Royal Bank of Canada and Goldman Sachs raising their assessments to "outperform" and "buy," respectively.

Bard Financial Services Inc. lessened its holdings in Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 9.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,053,105 shares of the financial services provider's stock after selling 215,700 shares during the period. Lloyds Banking Group accounts for approximately 1.0% of Bard Financial Services Inc.'s portfolio, making the stock its 27th largest holding. Bard Financial Services Inc.'s holdings in Lloyds Banking Group were worth $8,726,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Earned Wealth Advisors LLC purchased a new stake in shares of Lloyds Banking Group during the 1st quarter valued at $38,000. SYM FINANCIAL Corp purchased a new position in shares of Lloyds Banking Group during the 1st quarter valued at about $40,000. Advisor Resource Council purchased a new position in shares of Lloyds Banking Group during the first quarter worth approximately $37,000. Rainey & Randall Wealth Advisors Inc. purchased a new position in shares of Lloyds Banking Group during the first quarter worth approximately $41,000. Finally, Focus Partners Wealth purchased a new position in shares of Lloyds Banking Group during the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 2.15% of the company's stock.

Lloyds Banking Group Trading Down 2.7%

Shares of LYG traded down $0.13 during mid-day trading on Friday, hitting $4.46. 1,931,633 shares of the company's stock traded hands, compared to its average volume of 21,108,615. The company has a quick ratio of 0.53, a current ratio of 1.44 and a debt-to-equity ratio of 1.68. The business's 50-day moving average price is $4.39 and its 200-day moving average price is $4.09. The firm has a market capitalization of $66.38 billion, a P/E ratio of 11.14, a PEG ratio of 0.67 and a beta of 1.05. Lloyds Banking Group PLC has a 1 year low of $2.56 and a 1 year high of $4.63.

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

Lloyds Banking Group Cuts Dividend

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

Analysts Set New Price Targets

LYG has been the topic of a number of analyst reports. Royal Bank Of Canada upgraded shares of Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. upgraded Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a report on Friday, August 1st. Wall Street Zen upgraded Lloyds Banking Group from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Keefe, Bruyette & Woods raised Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "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.