Eagle Global Advisors LLC Makes New Investment in Lloyds Banking Group PLC (NYSE:LYG)

Key Points

• Eagle Global Advisors LLC has acquired 500,000 shares of Lloyds Banking Group PLC, valued at approximately $1.91 million, in the first quarter.
• In the latest quarter, several hedge funds, including Millennium Management and Northern Trust Corp, have significantly increased their stakes in Lloyds Banking Group.
• Lloyds Banking Group recently reported earnings of $0.14 per share, exceeding analyst expectations, and announced a semi-annual dividend payout of $0.0655 per share.

Eagle Global Advisors LLC purchased a new position in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 500,000 shares of the financial services provider's stock, valued at approximately $1,910,000.

Several other large investors also recently bought and sold shares of LYG. Focus Partners Wealth purchased a new stake in Lloyds Banking Group during the 4th quarter worth about $31,000. Advisor Resource Council purchased a new position in shares of Lloyds Banking Group in the 1st quarter valued at about $37,000. Earned Wealth Advisors LLC purchased a new position in shares of Lloyds Banking Group in the 1st quarter valued at about $38,000. SYM FINANCIAL Corp purchased a new position in shares of Lloyds Banking Group in the 1st quarter valued at about $40,000. Finally, Rainey & Randall Wealth Advisors Inc. purchased a new position in shares of Lloyds Banking Group in the 1st quarter valued at about $41,000. Hedge funds and other institutional investors own 2.15% of the company's stock.

Lloyds Banking Group Stock Performance

NYSE:LYG traded down $0.06 during mid-day trading on Friday, reaching $4.52. 7,069,544 shares of the stock were exchanged, compared to its average volume of 10,381,646. The company has a 50 day simple moving average of $4.24 and a 200-day simple moving average of $3.89. The stock has a market capitalization of $67.83 billion, a P/E ratio of 11.30, a P/E/G ratio of 0.70 and a beta of 1.05. 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 1 year low of $2.56 and a 1 year high of $4.59.

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 analysts' consensus estimates of $0.10 by $0.04. The firm had revenue of $6.13 billion for 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%. Analysts anticipate that Lloyds Banking Group PLC will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Friday, September 19th. Shareholders of record on Monday, August 4th will be given a dividend of $0.0655 per share. This represents a 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%.

Analyst Ratings Changes

A number of research analysts have recently commented on LYG shares. Keefe, Bruyette & Woods upgraded Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. The Goldman Sachs Group upgraded Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Tuesday, August 5th. Morgan Stanley reiterated an "overweight" rating on shares of Lloyds Banking Group in a report on Monday, August 4th. Royal Bank Of Canada upgraded Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a report on Monday, August 4th. Finally, Wall Street Zen upgraded Lloyds Banking Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.