Northern Trust Corp Has $59.16 Million Stock Position in Lloyds Banking Group PLC $LYG

Key Points

• Northern Trust Corp reduced its holdings in Lloyds Banking Group PLC by 0.7%, owning approximately 15.49 million shares worth $59.16 million.
• Lloyds Banking Group recently announced a semi-annual dividend of $0.0655 per share to be paid on September 19th, with a yield of 370.0% and a payout ratio of 30.00%.
• Analysts upgraded Lloyds Banking Group's stock rating, with Goldman Sachs shifting from "neutral" to "buy," suggesting increased confidence in the company's performance.

Northern Trust Corp lessened its stake in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 0.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,487,638 shares of the financial services provider's stock after selling 116,687 shares during the period. Northern Trust Corp owned about 0.10% of Lloyds Banking Group worth $59,163,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Earned Wealth Advisors LLC bought a new stake in Lloyds Banking Group in the first quarter valued at approximately $38,000. SYM FINANCIAL Corp bought a new position in shares of Lloyds Banking Group in the first quarter valued at about $40,000. Advisor Resource Council bought a new position in shares of Lloyds Banking Group in the first quarter valued at about $37,000. Rainey & Randall Wealth Advisors Inc. bought a new position in Lloyds Banking Group in the 1st quarter valued at about $41,000. Finally, Focus Partners Wealth bought a new position in Lloyds Banking Group in the 4th quarter valued at about $31,000. 2.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on LYG. Morgan Stanley reiterated an "overweight" rating on shares of Lloyds Banking Group in a research note on Monday, August 4th. Wall Street Zen cut shares of Lloyds Banking Group from a "buy" rating to a "hold" rating in a report on Saturday. Keefe, Bruyette & Woods upgraded Lloyds Banking Group from a "hold" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Royal Bank Of Canada upgraded Lloyds Banking Group from a "sector perform" rating to an "outperform" rating in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. upgraded Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Lloyds Banking Group currently has a consensus rating of "Moderate Buy".

Lloyds Banking Group Price Performance

Shares of NYSE:LYG traded down $0.15 during trading on Friday, hitting $4.33. 8,521,260 shares of the company were exchanged, compared to its average volume of 9,006,835. The business's 50 day moving average is $4.31 and its 200-day moving average is $3.99. The company has a market capitalization of $64.73 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 0.66 and a beta of 1.05. The company has a quick ratio of 0.53, a current ratio of 1.44 and a debt-to-equity ratio of 1.68. 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 (EPS) for the quarter, beating the consensus estimate 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 during 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 year.

Lloyds Banking Group Cuts Dividend

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