TD Waterhouse Canada Inc. Decreases Stake in Lloyds Banking Group PLC $LYG

Key Points

• TD Waterhouse Canada reduced its Lloyds Banking Group stake by 15.1% in the second quarter, selling 266,231 shares and retaining 1.49 million shares valued at approximately $8.84 million.
• Analyst sentiment remains broadly positive: eight analysts rate the stock a Buy and four rate it a Hold, resulting in a consensus “Moderate Buy” rating.
• Lloyds reported quarterly earnings of $0.13 per share, slightly below the $0.14 consensus estimate, while revenue of $6.57 billion also missed expectations. The stock recently traded at $6.07, near its 52-week high of $6.34.

TD Waterhouse Canada Inc. cut its position in Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 15.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,494,395 shares of the financial services provider's stock after selling 266,231 shares during the period. TD Waterhouse Canada Inc.'s holdings in Lloyds Banking Group were worth $8,837,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Greenspring Advisors LLC increased its holdings in Lloyds Banking Group by 4.6% in the second quarter. Greenspring Advisors LLC now owns 61,884 shares of the financial services provider's stock valued at $361,000 after buying an additional 2,738 shares during the last quarter. Aletheian Wealth Advisors LLC acquired a new stake in shares of Lloyds Banking Group in the 2nd quarter valued at about $71,000. Continuum Advisory LLC boosted its holdings in shares of Lloyds Banking Group by 36.5% in the second quarter. Continuum Advisory LLC now owns 37,450 shares of the financial services provider's stock valued at $218,000 after acquiring an additional 10,014 shares during the period. Tranquilli Financial Advisor LLC grew its position in Lloyds Banking Group by 4.5% during the 2nd quarter. Tranquilli Financial Advisor LLC now owns 83,749 shares of the financial services provider's stock worth $488,000 after purchasing an additional 3,588 shares during the last quarter. Finally, NINE MASTS CAPITAL Ltd purchased a new position in shares of Lloyds Banking Group during the second quarter worth about $8,072,000. 2.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Bank of America raised Lloyds Banking Group from a "neutral" rating to a "buy" rating in a report on Tuesday, September 1st. Wall Street Zen lowered shares of Lloyds Banking Group from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. Berenberg Bank began coverage on shares of Lloyds Banking Group in a research report on Wednesday, June 24th. They set a "hold" rating for the company. Weiss Ratings raised shares of Lloyds Banking Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 21st. Finally, 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. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Lloyds Banking Group has a consensus rating of "Moderate Buy".

Lloyds Banking Group Stock Performance

NYSE:LYG opened at $6.07 on Friday. 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 $4.31 and a fifty-two week high of $6.34. The firm's fifty day simple moving average is $6.05 and its 200-day simple moving average is $5.61. The stock has a market cap of $88.24 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 0.62 and a beta of 0.87.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last issued its earnings results 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 company had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.86 billion. Analysts expect that Lloyds Banking Group PLC will post 0.55 earnings per share for the current fiscal year.

Lloyds Banking Group Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, September 25th. Shareholders of record on Monday, August 10th will be given a dividend of $0.084 per share. This represents a yield of 273.0%. The ex-dividend date is Monday, August 10th. Lloyds Banking Group's payout ratio is presently 37.21%.

Lloyds Banking Group Company 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.

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