JPMorgan Chase & Co. Has $6.29 Million Stake in Lloyds Banking Group plc (NYSE:LYG)

JPMorgan Chase & Co. lessened its stake in Lloyds Banking Group plc (NYSE:LYG - Free Report) by 65.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,311,003 shares of the financial services provider's stock after selling 4,348,626 shares during the period. JPMorgan Chase & Co.'s holdings in Lloyds Banking Group were worth $6,286,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of LYG. Public Employees Retirement System of Ohio acquired a new position in shares of Lloyds Banking Group in the 3rd quarter valued at $486,000. Virtu Financial LLC lifted its position in Lloyds Banking Group by 325.7% during the 3rd quarter. Virtu Financial LLC now owns 184,829 shares of the financial services provider's stock worth $577,000 after buying an additional 141,409 shares in the last quarter. Sanctuary Advisors LLC lifted its position in Lloyds Banking Group by 118.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 198,087 shares of the financial services provider's stock worth $618,000 after buying an additional 107,395 shares in the last quarter. World Investment Advisors LLC bought a new stake in Lloyds Banking Group during the 3rd quarter worth about $64,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Lloyds Banking Group during the 3rd quarter worth approximately $262,000. Institutional investors own 2.15% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on LYG shares. Hsbc Global Res raised Lloyds Banking Group to a "strong-buy" rating in a report on Thursday, March 20th. Keefe, Bruyette & Woods cut Lloyds Banking Group from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 11th. Morgan Stanley raised Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a report on Tuesday, March 4th. Finally, HSBC raised Lloyds Banking Group from a "hold" rating to a "buy" rating in a report on Tuesday, April 1st. Seven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $2.75.

Lloyds Banking Group Price Performance

LYG stock traded up $0.05 during midday trading on Wednesday, reaching $3.92. 6,569,958 shares of the stock were exchanged, compared to its average volume of 15,844,476. The company has a fifty day moving average price of $3.63 and a 200 day moving average price of $3.13. Lloyds Banking Group plc has a 52 week low of $2.50 and a 52 week high of $3.96. The stock has a market capitalization of $59.54 billion, a PE ratio of 11.88 and a beta of 0.95.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The financial services provider reported $0.05 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.03). Lloyds Banking Group had a net margin of 11.45% and a return on equity of 8.46%. The company had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $4.76 billion. As a group, analysts anticipate that Lloyds Banking Group plc will post 0.27 earnings per share for the current fiscal year.

Lloyds Banking Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, May 30th. Investors of record on Friday, April 11th will be paid a dividend of $0.1035 per share. The ex-dividend date of this dividend is Friday, April 11th. This represents a yield of 4%. This is a boost from Lloyds Banking Group's previous semi-annual dividend of $0.05. Lloyds Banking Group's dividend payout ratio (DPR) is currently 60.61%.

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.