Wealth Enhancement Advisory Services LLC Has $516,000 Holdings in Lloyds Banking Group PLC $LYG

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in Lloyds Banking Group PLC by 112.2%, owning 124,024 shares valued at $516,000 as of its latest SEC filing.
• Analyst ratings for Lloyds Banking Group have improved, with upgrades from several firms, including a transition from “underweight” to “neutral” by JPMorgan Chase and from “sector perform” to “outperform” by Royal Bank Of Canada.
• Lloyds Banking Group recently announced a semi-annual dividend of $0.0655 per share, resulting in a dividend yield of 370.0% and a payout ratio of 30.00%.

Wealth Enhancement Advisory Services LLC grew its holdings in Lloyds Banking Group PLC (NYSE:LYG - Free Report) by 112.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,024 shares of the financial services provider's stock after purchasing an additional 65,579 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Lloyds Banking Group were worth $516,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in LYG. Advisor Resource Council acquired a new position in Lloyds Banking Group in the 1st quarter valued at approximately $37,000. Earned Wealth Advisors LLC acquired a new stake in shares of Lloyds Banking Group during the 1st quarter valued at $38,000. SYM FINANCIAL Corp acquired a new position in shares of Lloyds Banking Group in the first quarter worth $40,000. Rainey & Randall Wealth Advisors Inc. purchased a new stake in shares of Lloyds Banking Group during the first quarter worth $41,000. Finally, Sowell Financial Services LLC acquired a new stake in Lloyds Banking Group during the first quarter valued at $44,000. 2.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LYG has been the topic of several research reports. JPMorgan Chase & Co. raised Lloyds Banking Group from an "underweight" rating to a "neutral" rating in a research report on Friday, August 1st. Royal Bank Of Canada upgraded 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 research note on Thursday, July 17th. The Goldman Sachs Group upgraded shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research note on Tuesday, August 5th. Finally, Zacks Research lowered shares of Lloyds Banking Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Lloyds Banking Group Stock Performance

LYG opened at $4.59 on Monday. Lloyds Banking Group PLC has a 12-month low of $2.56 and a 12-month high of $4.63. The firm has a market capitalization of $68.32 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 0.66 and a beta of 1.02. The stock's 50 day moving average price is $4.45 and its two-hundred day moving average price is $4.15. 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 (NYSE:LYG - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.14 earnings per share 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 analysts' expectations of $4.86 billion. On average, 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 business also recently disclosed a semi-annual dividend, which was paid on Friday, September 19th. Stockholders of record on Monday, August 4th were issued a dividend of $0.0655 per share. The ex-dividend date was Monday, August 4th. This represents a dividend yield of 370.0%. Lloyds Banking Group's payout ratio is presently 30.00%.

About Lloyds Banking Group

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.

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