Natixis Advisors LLC Decreases Stake in Lloyds Banking Group PLC (NYSE:LYG)

Key Points

• Natixis Advisors LLC has reduced its stake in Lloyds Banking Group PLC by 5.3% during the first quarter, selling 78,393 shares and now holding 1,395,893 shares valued at $5,332,000.
• Lloyds Banking Group recently announced a semi-annual dividend of $0.0655, with a dividend yield of 370.0% and a payout ratio of 32.50%.
• Analysts have upgraded their ratings for Lloyds Banking Group, with several firms moving from hold to buy or outperform, reflecting increased confidence in the company's prospects.

Natixis Advisors LLC cut its holdings in Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 5.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,395,893 shares of the financial services provider's stock after selling 78,393 shares during the quarter. Natixis Advisors LLC's holdings in Lloyds Banking Group were worth $5,332,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in Lloyds Banking Group by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,404,259 shares of the financial services provider's stock worth $44,620,000 after purchasing an additional 453,326 shares in the last quarter. Northern Trust Corp raised its holdings in Lloyds Banking Group by 34.7% in the fourth quarter. Northern Trust Corp now owns 15,604,325 shares of the financial services provider's stock worth $42,444,000 after purchasing an additional 4,021,039 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Lloyds Banking Group by 9.0% in 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 purchasing an additional 863,347 shares in the last quarter. Millennium Management LLC raised its holdings in Lloyds Banking Group by 225.0% in the fourth 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 in the last quarter. Finally, Crossmark Global Holdings Inc. raised its holdings in Lloyds Banking Group by 0.4% in the first quarter. Crossmark Global Holdings Inc. now owns 4,831,997 shares of the financial services provider's stock worth $18,458,000 after purchasing an additional 18,767 shares in the last quarter. 2.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LYG shares. Royal Bank Of Canada upgraded shares of Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a report on Monday, August 4th. Keefe, Bruyette & Woods upgraded shares of Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a report on Thursday, July 17th. The Goldman Sachs Group upgraded shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Tuesday. Wall Street Zen upgraded shares of Lloyds Banking Group from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Morgan Stanley restated an "overweight" rating on shares of Lloyds Banking Group in a report on Monday. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Lloyds Banking Group Stock Performance

NYSE:LYG traded up $0.06 during midday trading on Friday, hitting $4.40. The company's stock had a trading volume of 6,490,982 shares, compared to its average volume of 10,943,855. 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 fifty-two week low of $2.56 and a fifty-two week high of $4.44. The firm's 50 day moving average is $4.21 and its 200-day moving average is $3.84. The firm has a market cap of $66.03 billion, a P/E ratio of 11.00, a P/E/G ratio of 0.67 and a beta of 1.05.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced its quarterly 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. Lloyds Banking Group had a net margin of 17.51% and a return on equity of 9.28%. The firm had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $4.86 billion. Equities analysts anticipate that Lloyds Banking Group PLC will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, September 19th. Investors of record on Monday, August 4th will be paid a $0.0655 dividend. 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 (DPR) is currently 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.