Charles Schwab Investment Management Inc. Acquires 225,112 Shares of Lloyds Banking Group PLC $LYG

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Lloyds Banking Group PLC by 20%, now holding over 1.35 million shares valued at approximately $5.16 million.
• Several institutional investors, including Invesco Ltd. and Guggenheim Capital LLC, have also significantly expanded their positions in Lloyds Banking Group, indicating growing institutional interest in the stock.
• Analysts have recently upgraded their ratings for Lloyds Banking Group, with notable changes including upgrades by Keefe, Bruyette & Woods and Goldman Sachs, suggesting a positive outlook for the stock's performance.

Charles Schwab Investment Management Inc. increased its holdings in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 20.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,351,534 shares of the financial services provider's stock after purchasing an additional 225,112 shares during the period. Charles Schwab Investment Management Inc.'s holdings in Lloyds Banking Group were worth $5,163,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Jackson Thornton Wealth Management LLC raised its holdings in Lloyds Banking Group by 20.4% in the 1st quarter. Jackson Thornton Wealth Management LLC now owns 15,168 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 2,573 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in Lloyds Banking Group by 4.5% in the 1st quarter. Perigon Wealth Management LLC now owns 61,411 shares of the financial services provider's stock valued at $235,000 after acquiring an additional 2,617 shares in the last quarter. Mutual Advisors LLC raised its holdings in Lloyds Banking Group by 27.2% in the 1st quarter. Mutual Advisors LLC now owns 12,916 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 2,758 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in Lloyds Banking Group by 22.1% in the 1st quarter. SBI Securities Co. Ltd. now owns 15,369 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 2,784 shares in the last quarter. Finally, Crumly & Associates Inc. raised its holdings in Lloyds Banking Group by 8.7% in the 1st quarter. Crumly & Associates Inc. now owns 36,162 shares of the financial services provider's stock valued at $138,000 after acquiring an additional 2,884 shares in the last quarter. Institutional investors and hedge funds own 2.15% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on LYG. Royal Bank Of Canada raised Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a report on Monday, August 4th. JPMorgan Chase & Co. raised Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods raised Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Wall Street Zen lowered Lloyds Banking Group from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Morgan Stanley reiterated 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 given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Lloyds Banking Group Price Performance

Shares of LYG stock traded down $0.15 during trading hours on Monday, hitting $4.33. The company had a trading volume of 8,521,260 shares, compared to its average volume of 8,033,793. Lloyds Banking Group PLC has a 12 month low of $2.56 and a 12 month high of $4.62. The firm has a market capitalization of $64.73 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 0.66 and a beta of 1.05. The firm's fifty day moving average is $4.31 and its 200 day moving average is $4.00. 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. The business had revenue of $6.13 billion for 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, sell-side analysts predict that Lloyds Banking Group PLC will post 0.27 EPS 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. The ex-dividend date is Monday, August 4th. This represents a yield of 370.0%. Lloyds Banking Group's dividend payout ratio is 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.