Lloyds Banking Group PLC $LYG Shares Sold by Mondrian Investment Partners LTD

Key Points

• Mondrian Investment Partners reduced its Lloyds Banking Group stake by 5.3% in the third quarter, selling 2.63 million shares while retaining 47.31 million shares valued at approximately $266.4 million.
• Other institutional investors made mixed moves, with Bank of America, Squarepoint Ops and Envestnet increasing their positions, while hedge funds and institutions collectively owned 2.15% of Lloyds’ stock.
• Lloyds shares opened at $5.33, below the analyst consensus target of $6.00. The company recently missed quarterly earnings and revenue estimates, cut its dividend to $0.084, and carries a consensus analyst rating of Hold.

Mondrian Investment Partners LTD cut its holdings in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,314,255 shares of the financial services provider's stock after selling 2,630,970 shares during the period. Lloyds Banking Group accounts for approximately 5.8% of Mondrian Investment Partners LTD's investment portfolio, making the stock its 2nd biggest holding. Mondrian Investment Partners LTD owned about 0.33% of Lloyds Banking Group worth $266,379,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LYG. Bank of America Corp DE increased its position in Lloyds Banking Group by 2.9% during the 2nd quarter. Bank of America Corp DE now owns 8,005,022 shares of the financial services provider's stock valued at $46,669,000 after buying an additional 222,310 shares in the last quarter. Squarepoint Ops LLC raised its stake in Lloyds Banking Group by 67.4% in the second quarter. Squarepoint Ops LLC now owns 642,950 shares of the financial services provider's stock valued at $3,748,000 after buying an additional 258,941 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Lloyds Banking Group by 2.9% in the second quarter. Envestnet Asset Management Inc. now owns 12,564,633 shares of the financial services provider's stock valued at $73,250,000 after buying an additional 351,626 shares during the last quarter. WCM Investment Management LLC acquired a new stake in Lloyds Banking Group in the first quarter worth about $128,228,000. Finally, NINE MASTS CAPITAL Ltd acquired a new stake in Lloyds Banking Group in the second quarter worth about $8,072,000. Hedge funds and other institutional investors own 2.15% of the company's stock.

Lloyds Banking Group Stock Performance

Shares of LYG stock opened at $5.33 on Friday. The firm has a market capitalization of $76.82 billion, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 0.56 and a beta of 0.91. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.52 and a quick ratio of 0.56. The business has a fifty day moving average of $5.76 and a 200 day moving average of $5.70. Lloyds Banking Group PLC has a 1 year low of $4.51 and a 1 year high of $6.34.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). The firm had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.86 billion. Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%. As a group, research analysts expect that Lloyds Banking Group PLC will post 0.54 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, September 25th. Stockholders of record on Monday, August 10th were paid a $0.0840 dividend. The ex-dividend date was Monday, August 10th. This is a negative change from Lloyds Banking Group's previous dividend of $0.1340. This represents a dividend yield of 273.0%. Lloyds Banking Group's dividend payout ratio (DPR) is 37.21%.

Analyst Ratings Changes

LYG has been the topic of a number of research analyst reports. Royal Bank Of Canada lowered Lloyds Banking Group from an "outperform" rating to a "sector perform" rating in a research note on Friday, October 16th. Keefe, Bruyette & Woods lowered shares of Lloyds Banking Group from a "moderate buy" rating to a "hold" rating in a research report on Friday, July 17th. Wall Street Zen cut shares of Lloyds Banking Group from a "buy" rating to a "hold" rating in a research note on Sunday, September 27th. Morgan Stanley reiterated an "overweight" rating on shares of Lloyds Banking Group in a research note on Wednesday, September 2nd. Finally, Citigroup reissued a "buy" rating on shares of Lloyds Banking Group in a research report on Thursday, July 16th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Lloyds Banking Group presently has an average rating of "Hold" and a consensus target price of $6.00.

Lloyds Banking Group Profile

Lloyds Banking Group plc is a UK-based financial services group whose American depositary shares trade on the New York Stock Exchange under the symbol LYG. The group provides banking, lending, insurance, pensions and investment services to individuals, businesses and institutional customers.

Its principal brands include Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Products and services include current and savings accounts, residential mortgages, personal and business loans, credit cards, commercial banking, asset finance, life insurance, pensions and investment solutions.

Lloyds Banking Group was formed in 2009 through the acquisition of HBOS by Lloyds TSB.

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