Millennium Management LLC Has $31.32 Million Position in Lloyds Banking Group PLC $LYG

Key Points

• Millennium Management LLC increased its stake in Lloyds Banking Group by 15.5%, owning approximately $31.32 million worth of shares as of the latest SEC filing.
• Lloyds Banking Group's stock rose 0.8% to $4.49 as it reported better-than-expected earnings, with a net margin of 17.51% and revenue of $6.13 billion for the quarter.
• The company announced a semi-annual dividend of $0.0655 per share, resulting in a significant dividend yield of 370.0%.

Millennium Management LLC grew its holdings in Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,199,299 shares of the financial services provider's stock after purchasing an additional 1,100,359 shares during the quarter. Millennium Management LLC owned about 0.05% of Lloyds Banking Group worth $31,321,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Envestnet Asset Management Inc. grew its position in Lloyds Banking Group by 9.0% during the first quarter. Envestnet Asset Management Inc. now owns 10,492,898 shares of the financial services provider's stock worth $40,083,000 after buying an additional 863,347 shares in the last quarter. Eagle Global Advisors LLC acquired a new stake in Lloyds Banking Group during the first quarter worth about $1,910,000. American Century Companies Inc. grew its position in Lloyds Banking Group by 6.0% during the first quarter. American Century Companies Inc. now owns 7,011,774 shares of the financial services provider's stock worth $26,785,000 after buying an additional 399,866 shares in the last quarter. Vestmark Advisory Solutions Inc. grew its position in Lloyds Banking Group by 85.6% during the first quarter. Vestmark Advisory Solutions Inc. now owns 846,594 shares of the financial services provider's stock worth $3,234,000 after buying an additional 390,374 shares in the last quarter. Finally, Curi RMB Capital LLC acquired a new stake in Lloyds Banking Group during the first quarter worth about $1,107,000. 2.15% of the stock is owned by institutional investors and hedge funds.

Lloyds Banking Group Stock Up 0.8%

NYSE LYG opened at $4.49 on Thursday. 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 stock's 50 day moving average is $4.34 and its two-hundred day moving average is $4.05. The company has a market capitalization of $67.12 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 0.65 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.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 earnings per share 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 for the quarter, compared to the consensus estimate of $4.86 billion. Equities 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 announced a semi-annual dividend, which will be paid on Friday, September 19th. Stockholders of record on Monday, August 4th will be paid a $0.0655 dividend. The ex-dividend date is Monday, August 4th. This represents a dividend yield of 370.0%. Lloyds Banking Group's payout ratio is 32.50%.

Analyst Upgrades and Downgrades

LYG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research report on Thursday, July 17th. Wall Street Zen raised Lloyds Banking Group from a "hold" rating to a "buy" rating in a research report on Sunday. Royal Bank Of Canada raised Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a research report on Monday, August 4th. JPMorgan Chase & Co. raised Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group raised Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Lloyds Banking Group currently has an average rating of "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.

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