Brooklyn Investment Group Takes $327,000 Position 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 purchased a new stake in Lloyds Banking Group PLC (NYSE:LYG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 85,517 shares of the financial services provider's stock, valued at approximately $327,000.

Several other large investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. boosted its holdings in Lloyds Banking Group by 5.4% in the first quarter. Raymond James Financial Inc. now owns 4,349,389 shares of the financial services provider's stock valued at $16,615,000 after acquiring an additional 222,180 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in Lloyds Banking Group by 23.5% in the first quarter. Cresset Asset Management LLC now owns 18,416 shares of the financial services provider's stock valued at $70,000 after acquiring an additional 3,508 shares in the last quarter. American Century Companies Inc. boosted its holdings in Lloyds Banking Group by 6.0% in the first quarter. American Century Companies Inc. now owns 7,011,774 shares of the financial services provider's stock valued at $26,785,000 after acquiring an additional 399,866 shares in the last quarter. Sei Investments Co. lifted its position in Lloyds Banking Group by 6.8% during the first quarter. Sei Investments Co. now owns 665,509 shares of the financial services provider's stock valued at $2,424,000 after buying an additional 42,367 shares during the period. Finally, Vestmark Advisory Solutions Inc. lifted its position in Lloyds Banking Group by 85.6% during the first quarter. Vestmark Advisory Solutions Inc. now owns 846,594 shares of the financial services provider's stock valued at $3,234,000 after buying an additional 390,374 shares during the period. Institutional investors own 2.15% of the company's stock.

Lloyds Banking Group Stock Down 0.3%

Shares of LYG traded down $0.0150 during trading hours on Monday, hitting $4.5850. The company had a trading volume of 1,340,280 shares, compared to its average volume of 22,737,982. The firm has a fifty day moving average price of $4.27 and a 200-day moving average price of $3.95. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.53 and a current ratio of 1.44. The stock has a market capitalization of $68.62 billion, a price-to-earnings ratio of 11.46, a P/E/G ratio of 0.71 and a beta of 1.05. Lloyds Banking Group PLC has a 52-week low of $2.56 and a 52-week high of $4.62.

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

Lloyds Banking Group Cuts Dividend

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

Analysts Set New Price Targets

Several research analysts recently issued reports on LYG shares. JPMorgan Chase & Co. upgraded shares of Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research note on Friday, August 1st. The Goldman Sachs Group upgraded shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research note on Tuesday, August 5th. Morgan Stanley reiterated an "overweight" rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. Royal Bank Of Canada upgraded shares of Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a research note on Monday, August 4th. Finally, Keefe, Bruyette & Woods upgraded shares of Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Lloyds Banking Group has an average 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.