Bard Financial Services Inc. Sells 215,700 Shares of 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 stake in Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 9.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Earned Wealth Advisors LLC bought a new position in Lloyds Banking Group in the 1st quarter worth approximately $38,000. SYM FINANCIAL Corp bought a new position in Lloyds Banking Group in the 1st quarter worth approximately $40,000. Advisor Resource Council bought a new position in Lloyds Banking Group in the 1st quarter worth approximately $37,000. Rainey & Randall Wealth Advisors Inc. bought a new position in Lloyds Banking Group in the 1st quarter worth approximately $41,000. Finally, Focus Partners Wealth acquired a new stake in Lloyds Banking Group during the 4th quarter worth $31,000. Institutional investors own 2.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LYG shares. Royal Bank Of Canada raised shares of Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a report on Monday, August 4th. The Goldman Sachs Group raised shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Tuesday, August 5th. Morgan Stanley reaffirmed an "overweight" rating on shares of Lloyds Banking Group in a report on Monday, August 4th. Wall Street Zen raised shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Finally, JPMorgan Chase & Co. raised shares of Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Lloyds Banking Group has a consensus rating of "Buy".

Lloyds Banking Group Price Performance

LYG opened at $4.53 on Monday. The company has a quick ratio of 0.53, a current ratio of 1.44 and a debt-to-equity ratio of 1.68. Lloyds Banking Group PLC has a 12 month low of $2.56 and a 12 month high of $4.62. The company has a fifty day simple moving average of $4.35 and a 200 day simple moving average of $4.07. The stock has a market cap of $67.80 billion, a P/E ratio of 11.33, a P/E/G ratio of 0.66 and a beta of 1.05.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 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 during the quarter, compared to analysts' expectations of $4.86 billion. On average, research analysts expect that Lloyds Banking Group PLC will post 0.27 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 4th will be given a $0.0655 dividend. The ex-dividend date is Monday, August 4th. This represents a dividend yield of 370.0%. Lloyds Banking Group's dividend payout ratio is currently 30.00%.

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.

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