ICONIQ Capital LLC Boosts Stock Position in Lloyds Banking Group PLC $LYG

Key Points

• ICONIQ Capital LLC increased its stake in Lloyds Banking Group by 194.1% in the first quarter, raising its holdings to 87,502 shares, valued at $334,000.
• Several institutional investors also raised their positions in Lloyds Banking Group, including Jackson Thornton Wealth Management, which increased its stake by 20.4%.
• Lloyds Banking Group's stock received positive upgrades from multiple analysts, with Goldman Sachs changing its rating from "neutral" to "buy".

ICONIQ Capital LLC boosted its holdings in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 194.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,502 shares of the financial services provider's stock after purchasing an additional 57,750 shares during the period. ICONIQ Capital LLC's holdings in Lloyds Banking Group were worth $334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Jackson Thornton Wealth Management LLC boosted its stake in shares of Lloyds Banking Group by 20.4% during 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 purchasing an additional 2,573 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in Lloyds Banking Group by 4.5% in the first quarter. Perigon Wealth Management LLC now owns 61,411 shares of the financial services provider's stock worth $235,000 after buying an additional 2,617 shares during the period. Mutual Advisors LLC boosted its position in Lloyds Banking Group by 27.2% during 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. grew its holdings in shares of Lloyds Banking Group by 22.1% during the 1st quarter. SBI Securities Co. Ltd. now owns 15,369 shares of the financial services provider's stock worth $59,000 after acquiring an additional 2,784 shares during the period. Finally, Crumly & Associates Inc. raised its position in shares of 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 worth $138,000 after acquiring an additional 2,884 shares in the last quarter. Hedge funds and other institutional investors own 2.15% of the company's stock.

Analyst Ratings Changes

LYG has been the topic of several research reports. The Goldman Sachs Group upgraded Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research report on Tuesday, August 5th. 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. 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. Wall Street Zen raised Lloyds Banking Group from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, JPMorgan Chase & Co. raised Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Lloyds Banking Group Trading Down 0.7%

Shares of LYG stock opened at $4.57 on Tuesday. The company has a current ratio of 1.44, a quick ratio of 0.53 and a debt-to-equity ratio of 1.68. Lloyds Banking Group PLC has a 12-month low of $2.56 and a 12-month high of $4.62. The stock has a market capitalization of $68.39 billion, a P/E ratio of 11.43, a P/E/G ratio of 0.71 and a beta of 1.05. The firm's 50 day moving average is $4.28 and its 200 day moving average is $3.96.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.04. Lloyds Banking Group had a return on equity of 9.28% and a net margin of 17.51%.The company had revenue of $6.13 billion during the quarter, compared to analysts' expectations of $4.86 billion. Research analysts expect that Lloyds Banking Group PLC will post 0.27 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

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

About Lloyds Banking Group

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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