Squarepoint Ops LLC Purchases 258,941 Shares of Lloyds Banking Group PLC $LYG

Key Points

• Squarepoint Ops LLC increased its Lloyds Banking Group stake by 67.4% in the second quarter, purchasing 258,941 shares for a total holding of 642,950 shares valued at approximately $3.75 million.
• Analyst sentiment remains favorable overall: eight analysts rate LYG a Buy and four rate it a Hold, resulting in a “Moderate Buy” consensus, though several firms recently downgraded or initiated Hold ratings.
• Lloyds shares opened at $6.00, near their 52-week high, while the latest quarterly results fell slightly short of expectations, with earnings of $0.13 per share versus the $0.14 consensus and revenue of $6.57 billion versus $6.86 billion expected.

Squarepoint Ops LLC grew its holdings in shares of Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 67.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 642,950 shares of the financial services provider's stock after acquiring an additional 258,941 shares during the quarter. Squarepoint Ops LLC's holdings in Lloyds Banking Group were worth $3,748,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. United Capital Financial Advisors LLC lifted its stake in Lloyds Banking Group by 1.5% in the second quarter. United Capital Financial Advisors LLC now owns 126,671 shares of the financial services provider's stock worth $738,000 after purchasing an additional 1,841 shares during the last quarter. Fiduciary Financial Group LLC grew its stake in shares of Lloyds Banking Group by 11.7% during the second quarter. Fiduciary Financial Group LLC now owns 18,028 shares of the financial services provider's stock valued at $105,000 after buying an additional 1,891 shares during the last quarter. Papamarkou Wellner Asset Management inc. increased its holdings in shares of Lloyds Banking Group by 2.0% in the fourth quarter. Papamarkou Wellner Asset Management inc. now owns 104,100 shares of the financial services provider's stock worth $552,000 after buying an additional 2,000 shares during the period. Aptus Capital Advisors LLC lifted its stake in shares of Lloyds Banking Group by 11.9% in the 4th quarter. Aptus Capital Advisors LLC now owns 18,869 shares of the financial services provider's stock valued at $100,000 after acquiring an additional 2,009 shares during the last quarter. Finally, Angeles Wealth Management LLC boosted its holdings in Lloyds Banking Group by 5.1% during the 2nd quarter. Angeles Wealth Management LLC now owns 41,818 shares of the financial services provider's stock valued at $244,000 after acquiring an additional 2,031 shares during the period. Hedge funds and other institutional investors own 2.15% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LYG. Berenberg Bank started coverage on Lloyds Banking Group in a research report on Wednesday, June 24th. They set a "hold" rating on the stock. Citigroup reissued a "buy" rating on shares of Lloyds Banking Group in a research note on Thursday, July 16th. Keefe, Bruyette & Woods cut shares of Lloyds Banking Group from a "moderate buy" rating to a "hold" rating in a report on Friday, July 17th. Morgan Stanley reiterated an "overweight" rating on shares of Lloyds Banking Group in a report on Wednesday, September 2nd. Finally, Wall Street Zen cut shares of Lloyds Banking Group from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

Lloyds Banking Group Stock Up 1.8%

Shares of NYSE:LYG opened at $6.00 on Friday. The stock's 50-day moving average is $6.05 and its 200 day moving average is $5.62. The company has a market cap of $86.92 billion, a PE ratio of 13.94, a P/E/G ratio of 0.61 and a beta of 0.87. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.52 and a quick ratio of 0.56. Lloyds Banking Group PLC has a 1 year low of $4.36 and a 1 year high of $6.34.

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 earnings per share 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. Sell-side analysts anticipate that Lloyds Banking Group PLC will post 0.55 EPS for the current year.

Lloyds Banking Group Cuts Dividend

The business also recently declared a dividend, which will be paid on Friday, September 25th. Investors of record on Monday, August 10th will be issued a $0.084 dividend. The ex-dividend date is Monday, August 10th. This represents a yield of 273.0%. Lloyds Banking Group's payout ratio is 37.21%.

Lloyds Banking Group Profile

Lloyds Banking Group plc is a major United Kingdom financial services provider whose shares trade on the New York Stock Exchange under the symbol LYG. The group serves individuals, families, small businesses and larger commercial customers through a range of banking, lending, insurance, investment and wealth-management services.

Its principal brands include Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Products and services include current and savings accounts, mortgages, personal loans, credit cards, business banking, commercial lending, investment products, pensions and life insurance.

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