Janney Capital Management LLC Reduces Stock Holdings in Lloyds Banking Group PLC $LYG

Key Points

• Janney Capital Management LLC reduced its stake in Lloyds Banking Group by 1.8%, owning 3,115,690 shares worth approximately $13.2 million after selling 58,331 shares in the 2nd quarter.
• Several analysts upgraded their ratings for Lloyds Banking Group, with Royal Bank of Canada moving from "sector perform" to "outperform" and others providing ratings from "buy" to "hold."
• Lloyds Banking Group has reported strong financial results, beating earnings estimates in its last quarter, with earnings per share at $0.14 compared to a consensus of $0.10.

Janney Capital Management LLC reduced its stake in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,115,690 shares of the financial services provider's stock after selling 58,331 shares during the quarter. Janney Capital Management LLC's holdings in Lloyds Banking Group were worth $13,242,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of Lloyds Banking Group during the 2nd quarter valued at about $29,000. Opal Wealth Advisors LLC purchased a new stake in shares of Lloyds Banking Group during the 2nd quarter valued at about $35,000. Earned Wealth Advisors LLC purchased a new stake in shares of Lloyds Banking Group during the 1st quarter valued at about $38,000. Ascent Capital Management LLC purchased a new stake in shares of Lloyds Banking Group during the 2nd quarter valued at about $43,000. Finally, SYM FINANCIAL Corp purchased a new stake in shares of Lloyds Banking Group during the 1st quarter valued at about $40,000. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Royal Bank Of Canada upgraded Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a report on Monday, August 4th. Citigroup restated a "neutral" rating on shares of Lloyds Banking Group in a report on Monday, September 22nd. Wall Street Zen upgraded Lloyds Banking Group from a "hold" rating to a "buy" rating in a report on Sunday, September 7th. Keefe, Bruyette & Woods upgraded Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Finally, The Goldman Sachs Group upgraded Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Lloyds Banking Group Price Performance

Shares of NYSE LYG opened at $4.48 on Tuesday. Lloyds Banking Group PLC has a twelve month low of $2.56 and a twelve month high of $4.63. The company has a current ratio of 1.44, a quick ratio of 0.53 and a debt-to-equity ratio of 1.68. The company has a market capitalization of $66.75 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 0.65 and a beta of 1.05. The business has a 50 day simple moving average of $4.43 and a 200-day simple moving average of $4.13.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.14 earnings per share 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 business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $4.86 billion. As a group, equities 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 business also recently disclosed a semi-annual dividend, which was paid on Friday, September 19th. Investors of record on Monday, August 4th were given a dividend of $0.0655 per share. The ex-dividend date was Monday, August 4th. This represents a yield of 370.0%. Lloyds Banking Group's payout ratio is currently 30.00%.

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.

Want to see what other hedge funds are holding LYG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lloyds Banking Group PLC (NYSE:LYG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.