Maverick Capital Ltd. increased its position in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 97.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 198,538 shares of the financial services provider's stock after buying an additional 97,801 shares during the period. Maverick Capital Ltd.'s holdings in Lloyds Banking Group were worth $758,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Focus Partners Wealth purchased a new stake in shares of Lloyds Banking Group during the 4th quarter worth $31,000. Advisor Resource Council purchased a new stake in Lloyds Banking Group during the 1st quarter worth about $37,000. Earned Wealth Advisors LLC acquired a new position in shares of Lloyds Banking Group during the 1st quarter worth 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. acquired a new stake in shares of Lloyds Banking Group during the 1st quarter worth about $41,000. 2.15% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
LYG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. Wall Street Zen cut shares of Lloyds Banking Group from a "buy" rating to a "hold" rating in a report on Saturday, August 30th. JPMorgan Chase & Co. raised shares of Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research report on Friday, August 1st. The Goldman Sachs Group raised shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada raised Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".
Check Out Our Latest Research Report on LYG
Lloyds Banking Group Stock Performance
Shares of NYSE LYG traded down $0.04 during midday trading on Friday, reaching $4.35. 11,651,059 shares of the company were exchanged, compared to its average volume of 6,901,467. The stock has a market cap of $65.03 billion, a P/E ratio of 10.86, a PEG ratio of 0.67 and a beta of 1.05. Lloyds Banking Group PLC has a 1 year low of $2.56 and a 1 year high of $4.62. The stock has a fifty day simple moving average of $4.32 and a 200 day simple moving average of $4.03. 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 (NYSE:LYG - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 earnings per share for the quarter, topping 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. On average, research analysts forecast that Lloyds Banking Group PLC will post 0.27 earnings per share for the current fiscal year.
Lloyds Banking Group Cuts Dividend
The company also recently disclosed a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 4th will be given a $0.0655 dividend. This represents a yield of 370.0%. The ex-dividend date is Monday, August 4th. Lloyds Banking Group's dividend payout ratio (DPR) is 32.50%.
Lloyds Banking Group Company Profile
(
Free Report)
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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