Brooklyn Investment Group Invests $327,000 in Lloyds Banking Group PLC $LYG

Key Points

• Brooklyn Investment Group has acquired a new stake in Lloyds Banking Group PLC, purchasing 85,517 shares valued at approximately $327,000.
• Lloyds Banking Group recently reported earnings per share of $0.14, exceeding estimates, and announced a semi-annual dividend of $0.0655 per share.
• Several analysts have upgraded their ratings on Lloyds Banking Group, with the consensus rating now being a "Moderate Buy", reflecting increasing investor interest.

Brooklyn Investment Group acquired a new position in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 85,517 shares of the financial services provider's stock, valued at approximately $327,000.

A number of other large investors also recently modified their holdings of LYG. Millennium Management LLC lifted its position in shares of Lloyds Banking Group by 225.0% in the 4th quarter. Millennium Management LLC now owns 7,098,940 shares of the financial services provider's stock worth $19,309,000 after buying an additional 4,914,680 shares during the last quarter. Northern Trust Corp lifted its position in shares of Lloyds Banking Group by 34.7% in the 4th quarter. Northern Trust Corp now owns 15,604,325 shares of the financial services provider's stock worth $42,444,000 after buying an additional 4,021,039 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Lloyds Banking Group by 9.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 10,492,898 shares of the financial services provider's stock worth $40,083,000 after buying an additional 863,347 shares during the last quarter. Eagle Global Advisors LLC bought a new position in shares of Lloyds Banking Group in the 1st quarter worth about $1,910,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Lloyds Banking Group by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,404,259 shares of the financial services provider's stock worth $44,620,000 after buying an additional 453,326 shares during the last quarter. 2.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Morgan Stanley reiterated an "overweight" rating on shares of Lloyds Banking Group in a research report on Monday, August 4th. The Goldman Sachs Group upgraded shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research report on Tuesday, August 5th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Lloyds Banking Group currently has an average rating of "Moderate Buy".

Lloyds Banking Group Price Performance

Shares of LYG stock traded down $0.03 during midday trading on Monday, reaching $4.57. 4,420,848 shares of the company were exchanged, compared to its average volume of 9,520,564. Lloyds Banking Group PLC has a 12 month low of $2.56 and a 12 month high of $4.62. The company has a market cap of $68.39 billion, a P/E ratio of 11.43, a PEG ratio of 0.71 and a beta of 1.05. The company's 50 day moving average price is $4.28 and its two-hundred day moving average price is $3.96. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.53 and a current ratio of 1.44.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.14 EPS for the quarter, topping 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 company had revenue of $6.13 billion for 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 year.

Lloyds Banking Group Cuts Dividend

The firm also recently disclosed 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 of this dividend is Monday, August 4th. This represents a dividend yield of 370.0%. Lloyds Banking Group's payout ratio is currently 32.50%.

Lloyds Banking Group 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.