Lloyds Banking Group PLC (NYSE:LYG) Position Boosted by Lockheed Martin Investment Management Co.

Key Points

• Lockheed Martin Investment Management Co. increased its stake in Lloyds Banking Group PLC by 59.1%, acquiring an additional 156,060 shares during the first quarter.
• Equities analysts have recently upgraded Lloyds Banking Group's stock rating, with the consensus now classified as a "Moderate Buy", following upgrades from several major firms.
• Lloyds Banking Group announced a semi-annual dividend of $0.0655 per share, with a yield of 370.0%, despite a current payout ratio of 32.50%.

Lockheed Martin Investment Management Co. grew its stake in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 59.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 420,060 shares of the financial services provider's stock after purchasing an additional 156,060 shares during the period. Lockheed Martin Investment Management Co.'s holdings in Lloyds Banking Group were worth $1,605,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Earned Wealth Advisors LLC purchased a new stake in shares of Lloyds Banking Group in the 1st quarter worth about $38,000. Crux Wealth Advisors acquired a new position in shares of Lloyds Banking Group during the 4th quarter valued at about $28,000. SYM FINANCIAL Corp acquired a new position in shares of Lloyds Banking Group during the 1st quarter valued at about $40,000. Advisor Resource Council acquired a new stake in Lloyds Banking Group during the 1st quarter worth approximately $37,000. Finally, Rainey & Randall Wealth Advisors Inc. acquired a new stake in Lloyds Banking Group during the 1st quarter worth approximately $41,000. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Lloyds Banking Group Stock Performance

Shares of LYG traded up $0.02 during trading hours on Wednesday, reaching $4.55. 6,929,804 shares of the company's stock traded hands, compared to its average volume of 23,597,975. The firm has a market capitalization of $68.28 billion, a price-to-earnings ratio of 11.38, a P/E/G ratio of 0.68 and a beta of 1.05. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.44 and a quick ratio of 0.53. Lloyds Banking Group PLC has a twelve month low of $2.56 and a twelve month high of $4.58. The business's fifty day simple moving average is $4.22 and its two-hundred day simple moving average is $3.86.

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

Lloyds Banking Group Cuts Dividend

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

Wall Street Analysts Forecast Growth

LYG has been the subject of several recent research reports. 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. Wall Street Zen upgraded Lloyds Banking Group from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Morgan Stanley restated an "overweight" rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. JPMorgan Chase & Co. upgraded Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods raised Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

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.