Lloyds Banking Group PLC (NYSE:LYG) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Lloyds Banking Group has a “Moderate Buy” consensus from 11 analysts, with six buy ratings and five hold ratings. Recent updates included UBS upgrading the stock to buy, while Wall Street Zen downgraded it to hold.
• Several institutional investors increased their positions, including UBS Group, Renaissance Technologies and Jane Street Group; however, institutional investors and hedge funds collectively own just 2.15% of the company.
• 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 opened at $6.15, near its 52-week high of $6.34.

Lloyds Banking Group PLC (NYSE:LYG - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eleven analysts that are covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company.

Several analysts have weighed in on LYG shares. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Lloyds Banking Group in a research note on Friday. Citigroup restated a "buy" rating on shares of Lloyds Banking Group in a research note on Thursday, July 16th. Wall Street Zen cut shares of Lloyds Banking Group from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. UBS Group raised shares of Lloyds Banking Group from a "neutral" rating to a "buy" rating in a research note on Thursday, April 30th. Finally, Berenberg Bank began coverage on shares of Lloyds Banking Group in a research note on Wednesday, June 24th. They set a "hold" rating on the stock.

Hedge Funds Weigh In On Lloyds Banking Group

A number of hedge funds and other institutional investors have recently modified their holdings of LYG. WCM Investment Management LLC bought a new stake in Lloyds Banking Group in the first quarter worth $128,228,000. Janney Montgomery Scott LLC lifted its position in shares of Lloyds Banking Group by 2,413.7% in the first quarter. Janney Montgomery Scott LLC now owns 3,113,464 shares of the financial services provider's stock worth $15,661,000 after buying an additional 2,989,604 shares during the last quarter. UBS Group AG lifted its position in shares of Lloyds Banking Group by 53.9% in the third quarter. UBS Group AG now owns 6,614,695 shares of the financial services provider's stock worth $30,031,000 after buying an additional 2,317,927 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Lloyds Banking Group by 386.4% during the 1st quarter. Renaissance Technologies LLC now owns 2,528,180 shares of the financial services provider's stock worth $12,717,000 after acquiring an additional 2,008,380 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of Lloyds Banking Group by 178.3% during the 2nd quarter. Jane Street Group LLC now owns 2,261,115 shares of the financial services provider's stock valued at $9,610,000 after acquiring an additional 1,448,691 shares during the last quarter. Institutional investors and hedge funds own 2.15% of the company's stock.

Lloyds Banking Group Trading Down 2.1%

Lloyds Banking Group stock opened at $6.15 on Tuesday. The firm's 50-day moving average is $5.84 and its 200-day moving average is $5.58. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.56 and a current ratio of 1.52. Lloyds Banking Group has a 1 year low of $4.20 and a 1 year high of $6.34. The company has a market cap of $89.59 billion, a P/E ratio of 14.30, a PEG ratio of 0.63 and a beta of 0.87.

Lloyds Banking Group (NYSE:LYG - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). The company had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.86 billion. Lloyds Banking Group had a return on equity of 10.94% and a net margin of 24.97%. On average, equities analysts expect that Lloyds Banking Group will post 0.54 earnings per share for the current year.

Lloyds Banking Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, September 25th. Investors of record on Monday, August 10th will be issued 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 dividend payout ratio (DPR) is presently 58.14%.

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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