Avantax Advisory Services Inc. Boosts Holdings in Lloyds Banking Group PLC (NYSE:LYG)

Avantax Advisory Services Inc. grew its stake in Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 13.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 719,229 shares of the financial services provider's stock after buying an additional 87,102 shares during the period. Avantax Advisory Services Inc.'s holdings in Lloyds Banking Group were worth $2,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in LYG. Millennium Management LLC grew its stake in shares of 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 worth $19,309,000 after purchasing an additional 4,914,680 shares during the period. Northern Trust Corp lifted its holdings in Lloyds Banking Group by 34.7% in the 4th quarter. Northern Trust Corp now owns 15,604,325 shares of the financial services provider's stock valued at $42,444,000 after purchasing an additional 4,021,039 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Lloyds Banking Group by 11.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 26,669,053 shares of the financial services provider's stock valued at $72,540,000 after purchasing an additional 2,713,559 shares in the last quarter. Norges Bank purchased a new position in shares of Lloyds Banking Group during the 4th quarter worth $5,440,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Lloyds Banking Group by 9.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,492,898 shares of the financial services provider's stock worth $40,083,000 after acquiring an additional 863,347 shares during the period. Hedge funds and other institutional investors own 2.15% of the company's stock.

Lloyds Banking Group Stock Performance

Shares of Lloyds Banking Group stock traded up $0.16 during trading hours on Friday, hitting $4.38. 27,987,598 shares of the company were exchanged, compared to its average volume of 8,955,382. Lloyds Banking Group PLC has a 1 year low of $2.56 and a 1 year high of $4.44. 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 business has a 50-day moving average of $4.19 and a 200-day moving average of $3.79. The stock has a market capitalization of $65.73 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 0.67 and a beta of 0.99.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last released its earnings results 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 the consensus estimate of $4.86 billion. As a group, analysts expect that Lloyds Banking Group PLC will post 0.27 EPS for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The firm 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 $0.0655 dividend. The ex-dividend date is Monday, August 4th. This represents a yield of 370.0%. Lloyds Banking Group's payout ratio is 30.00%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LYG shares. JPMorgan Chase & Co. upgraded shares of Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a report on Friday. Keefe, Bruyette & Woods raised Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen raised Lloyds Banking Group from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Lloyds Banking Group has an average rating of "Moderate Buy".

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.