NINE MASTS CAPITAL Ltd Acquires Shares of 1,384,610 Lloyds Banking Group PLC $LYG

Key Points

• NINE MASTS CAPITAL acquired 1,384,610 Lloyds Banking Group shares valued at approximately $8.1 million, making the stock 0.8% of its portfolio and its 17th-largest holding.
• Several institutional investors increased or initiated positions in Lloyds during the second quarter, though hedge funds and other institutions collectively own only 2.15% of the stock.
• Lloyds shares recently traded at $5.93, while the company reported quarterly EPS of $0.13 and revenue of $6.57 billion—both below analyst expectations. Analysts maintain a consensus “Moderate Buy” rating, and the company declared a $0.084-per-share dividend.

NINE MASTS CAPITAL Ltd bought a new position in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,384,610 shares of the financial services provider's stock, valued at approximately $8,072,000. Lloyds Banking Group makes up 0.8% of NINE MASTS CAPITAL Ltd's holdings, making the stock its 17th largest position.

A number of other institutional investors have also recently modified their holdings of LYG. Two Sigma Securities LLC acquired a new position in Lloyds Banking Group during the second quarter worth $843,000. Benjamin Edwards Inc. raised its position in Lloyds Banking Group by 18.2% in the second quarter. Benjamin Edwards Inc. now owns 86,223 shares of the financial services provider's stock worth $503,000 after acquiring an additional 13,295 shares in the last quarter. GTS Securities LLC lifted its holdings in Lloyds Banking Group by 11.1% in the second quarter. GTS Securities LLC now owns 36,498 shares of the financial services provider's stock valued at $213,000 after acquiring an additional 3,657 shares during the period. Greenleaf Trust boosted its position in shares of Lloyds Banking Group by 24.2% during the 2nd quarter. Greenleaf Trust now owns 13,447 shares of the financial services provider's stock worth $78,000 after purchasing an additional 2,623 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Lloyds Banking Group by 14.0% during the 2nd quarter. Hsbc Holdings PLC now owns 31,168 shares of the financial services provider's stock worth $182,000 after purchasing an additional 3,827 shares during the period. 2.15% of the stock is currently owned by hedge funds and other institutional investors.

Lloyds Banking Group Trading Up 0.2%

Shares of LYG stock opened at $5.93 on Monday. The stock has a market cap of $86.20 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.60 and a beta of 0.87. The company has a quick ratio of 0.56, a current ratio of 1.52 and a debt-to-equity ratio of 2.12. Lloyds Banking Group PLC has a fifty-two week low of $4.20 and a fifty-two week high of $6.34. The business has a fifty day simple moving average of $6.02 and a 200-day simple moving average of $5.60.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%.The business had revenue of $6.57 billion during the quarter, compared to analysts' expectations of $6.86 billion. On average, analysts forecast that Lloyds Banking Group PLC will post 0.55 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, September 25th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.084 per share. This represents a dividend yield of 273.0%. The ex-dividend date of this dividend is Monday, August 10th. Lloyds Banking Group's dividend payout ratio (DPR) is 37.21%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LYG shares. Weiss Ratings upgraded shares of Lloyds Banking Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 21st. Keefe, Bruyette & Woods downgraded shares of Lloyds Banking Group from a "moderate buy" rating to a "hold" rating in a report on Friday, July 17th. Morgan Stanley restated an "overweight" rating on shares of Lloyds Banking Group in a research report on Tuesday, June 30th. Citigroup reiterated a "buy" rating on shares of Lloyds Banking Group in a research report on Thursday, July 16th. Finally, Berenberg Bank began coverage on Lloyds Banking Group in a research note on Wednesday, June 24th. They set a "hold" rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Lloyds Banking Group has a consensus rating of "Moderate Buy".

Lloyds Banking Group Profile

Lloyds Banking Group plc is a UK-based banking and financial services company that provides a broad range of retail, commercial and insurance products. Its principal consumer-facing brands include Lloyds Bank, Halifax and Bank of Scotland, through which it offers current accounts, savings, mortgages, credit cards and personal loans. The group also delivers services to small and medium-sized enterprises (SMEs) and larger corporate clients, supplying business accounts, lending, payments and cash-management solutions.

In addition to core banking, Lloyds operates a significant wealth and insurance arm under the Scottish Widows brand, offering life insurance, pensions, investment and retirement planning products.

Want to see what other hedge funds are holding LYG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lloyds Banking Group PLC (NYSE:LYG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source