Goldman Sachs Group Inc. Purchases 1,397,163 Shares of Lloyds Banking Group PLC $LYG

Key Points

• Goldman Sachs Group Inc. increased its stake in Lloyds Banking Group by 6.1%, owning approximately $92.27 million worth of shares as of its latest SEC filing.
• Several institutional investors, including Millennium Management and AQR Capital Management, also significantly increased their holdings in Lloyds Banking Group during the first quarter of the year.
• Lloyds Banking Group's stock ratings have been upgraded by multiple analysts, with the consensus rating now being a "Buy."

Goldman Sachs Group Inc. raised its stake in Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 6.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,154,117 shares of the financial services provider's stock after buying an additional 1,397,163 shares during the period. Goldman Sachs Group Inc. owned approximately 0.16% of Lloyds Banking Group worth $92,269,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Townsquare Capital LLC increased its holdings in shares of Lloyds Banking Group by 4.2% in 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 buying an additional 64,952 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Lloyds Banking Group by 119.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 125,225 shares of the financial services provider's stock valued at $341,000 after buying an additional 68,064 shares in the last quarter. ICONIQ Capital LLC increased its holdings in shares of Lloyds Banking Group by 194.1% in the first quarter. ICONIQ Capital LLC now owns 87,502 shares of the financial services provider's stock valued at $334,000 after buying an additional 57,750 shares in the last quarter. Millennium Management LLC raised its stake in Lloyds Banking Group by 225.0% during the 4th quarter. Millennium Management LLC now owns 7,098,940 shares of the financial services provider's stock valued at $19,309,000 after purchasing an additional 4,914,680 shares during the period. Finally, American Century Companies Inc. raised its stake in Lloyds Banking Group by 6.0% during the 1st 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 period. Institutional investors own 2.15% of the company's stock.

Lloyds Banking Group Price Performance

LYG stock remained flat at $4.57 during mid-day trading on Thursday. 3,181,457 shares of the company's stock were exchanged, compared to its average volume of 6,339,435. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.44 and a quick ratio of 0.53. Lloyds Banking Group PLC has a one year low of $2.56 and a one year high of $4.63. The stock has a 50 day simple moving average of $4.39 and a 200-day simple moving average of $4.09. The company has a market cap of $68.10 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 0.67 and a beta of 1.05.

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, beating 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 during the quarter, compared to analysts' expectations of $4.86 billion. On average, equities research analysts anticipate that Lloyds Banking Group PLC will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

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

Wall Street Analysts Forecast Growth

LYG has been the topic of several recent analyst reports. Keefe, Bruyette & Woods raised shares of Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. The Goldman Sachs Group raised shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research note on Tuesday, August 5th. Morgan Stanley reissued an "overweight" rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. Royal Bank Of Canada raised shares of Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a research note on Monday, August 4th. Finally, Wall Street Zen upgraded shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, Lloyds Banking Group has an average rating of "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.