Lloyds Banking Group PLC (NYSE:LYG) Position Decreased by Mondrian Investment Partners LTD

Key Points

• Mondrian Investment Partners LTD has decreased its stake in Lloyds Banking Group PLC by 9.2%, now holding 66,050,307 shares valued at approximately $252 million.
• Lloyds Banking Group reported earnings per share (EPS) of $0.14 for the last quarter, surpassing analysts' expectations of $0.10, with significant revenue of $6.13 billion.
• The company has announced a semi-annual dividend of $0.0655 per share, with a substantial yield of 370.0%, although it has recently cut its dividend.

Mondrian Investment Partners LTD cut its holdings in Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 9.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,050,307 shares of the financial services provider's stock after selling 6,683,977 shares during the quarter. Lloyds Banking Group accounts for 4.3% of Mondrian Investment Partners LTD's investment portfolio, making the stock its 2nd largest holding. Mondrian Investment Partners LTD owned about 0.44% of Lloyds Banking Group worth $252,312,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Townsquare Capital LLC lifted its stake in Lloyds Banking Group by 4.2% in the first quarter. Townsquare Capital LLC now owns 1,596,132 shares of the financial services provider's stock valued at $6,097,000 after buying an additional 64,952 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Lloyds Banking Group by 119.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 125,225 shares of the financial services provider's stock valued at $341,000 after acquiring an additional 68,064 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Lloyds Banking Group by 34.7% during the fourth quarter. Northern Trust Corp now owns 15,604,325 shares of the financial services provider's stock valued at $42,444,000 after acquiring an additional 4,021,039 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Lloyds Banking Group by 225.0% during the fourth quarter. Millennium Management LLC now owns 7,098,940 shares of the financial services provider's stock valued at $19,309,000 after acquiring an additional 4,914,680 shares in the last quarter. Finally, Perigon Wealth Management LLC increased its holdings in shares of Lloyds Banking Group by 4.5% during the first quarter. Perigon Wealth Management LLC now owns 61,411 shares of the financial services provider's stock valued at $235,000 after acquiring an additional 2,617 shares in the last quarter. 2.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LYG has been the subject of several recent research reports. Royal Bank Of Canada upgraded Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a report on Monday, August 4th. JPMorgan Chase & Co. upgraded Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods raised Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Morgan Stanley reissued an "overweight" rating on shares of Lloyds Banking Group in a research report on Monday, August 4th. Finally, The Goldman Sachs Group raised Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Lloyds Banking Group Stock Performance

NYSE:LYG traded down $0.06 during trading on Friday, reaching $4.52. The company's stock had a trading volume of 7,069,544 shares, compared to its average volume of 10,381,646. The firm has a market cap of $67.83 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 0.69 and a beta of 1.05. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.53 and a current ratio of 1.44. The firm has a 50 day moving average of $4.24 and a 200-day moving average of $3.90. Lloyds Banking Group PLC has a 12 month low of $2.56 and a 12 month high of $4.59.

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

Lloyds Banking Group Cuts Dividend

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

Lloyds Banking Group 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.