Cookson Peirce & Co. Inc. Takes $2.26 Million Position in Lloyds Banking Group PLC $LYG

Key Points

• Cookson Peirce & Co. Inc. has acquired a new stake in Lloyds Banking Group PLC valued at approximately $2.26 million by purchasing 532,595 shares in the second quarter.
• Lloyds Banking Group recently reported earnings of $0.14 per share, surpassing estimates, with revenue of $6.13 billion for the last quarter.
• The company has recently cut its dividend, with a dividend yield of 370.0% and a payout ratio of 32.5% as of its last dividend payment in September.

Cookson Peirce & Co. Inc. acquired a new stake in Lloyds Banking Group PLC (NYSE:LYG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 532,595 shares of the financial services provider's stock, valued at approximately $2,264,000.

Several other institutional investors have also modified their holdings of the company. Townsquare Capital LLC lifted its holdings in shares of Lloyds Banking Group by 4.2% during the first quarter. Townsquare Capital LLC now owns 1,596,132 shares of the financial services provider's stock valued at $6,097,000 after purchasing an additional 64,952 shares during the last quarter. ICONIQ Capital LLC lifted its holdings in shares of Lloyds Banking Group by 194.1% during the first quarter. ICONIQ Capital LLC now owns 87,502 shares of the financial services provider's stock valued at $334,000 after purchasing an additional 57,750 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Lloyds Banking Group by 6.0% during 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 purchasing an additional 399,866 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Lloyds Banking Group by 4.5% during the first quarter. Perigon Wealth Management LLC now owns 61,411 shares of the financial services provider's stock valued at $235,000 after purchasing an additional 2,617 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Lloyds Banking Group by 24.2% during the first quarter. GAMMA Investing LLC now owns 57,543 shares of the financial services provider's stock valued at $220,000 after purchasing an additional 11,225 shares during the last quarter. Institutional investors and hedge funds own 2.15% of the company's stock.

Lloyds Banking Group Stock Performance

LYG opened at $4.46 on Wednesday. The company has a market cap of $66.03 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 0.63 and a beta of 1.02. The stock has a 50-day moving average of $4.49 and a 200-day moving average of $4.21. Lloyds Banking Group PLC has a 52-week low of $2.56 and a 52-week high of $4.69. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. The company had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $4.86 billion. Lloyds Banking Group had a return on equity of 9.28% and a net margin of 17.51%. As a group, equities research analysts forecast that Lloyds Banking Group PLC will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Friday, September 19th. Shareholders of record on Monday, August 4th were given a $0.0655 dividend. The ex-dividend date was Monday, August 4th. This represents a dividend yield of 370.0%. Lloyds Banking Group's dividend payout ratio (DPR) is currently 32.50%.

Analysts Set New Price Targets

Several brokerages have recently 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. Citigroup reissued a "neutral" rating on shares of Lloyds Banking Group in a research report on Monday, September 22nd. Wall Street Zen lowered Lloyds Banking Group from a "buy" rating to a "hold" rating in a research report on Monday. Zacks Research lowered Lloyds Banking Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 23rd. Finally, Weiss Ratings lowered Lloyds Banking Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently 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.

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