QRG Capital Management Inc. Acquires 411,616 Shares of Lloyds Banking Group plc (NYSE:LYG)

QRG Capital Management Inc. increased its position in shares of Lloyds Banking Group plc (NYSE:LYG - Free Report) by 21.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,372,753 shares of the financial services provider's stock after buying an additional 411,616 shares during the quarter. QRG Capital Management Inc.'s holdings in Lloyds Banking Group were worth $6,454,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LYG. Brentview Investment Management LLC acquired a new position in Lloyds Banking Group during the 4th quarter valued at about $31,000. Simon Quick Advisors LLC bought a new stake in Lloyds Banking Group in the fourth quarter worth about $35,000. Cerro Pacific Wealth Advisors LLC purchased a new position in Lloyds Banking Group in the fourth quarter valued at approximately $37,000. Arkadios Wealth Advisors purchased a new position in shares of Lloyds Banking Group during the 3rd quarter valued at $42,000. Finally, CIBC Asset Management Inc bought a new position in Lloyds Banking Group during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 2.15% of the company's stock.

Lloyds Banking Group Stock Performance

Lloyds Banking Group stock traded up $0.18 during mid-day trading on Tuesday, hitting $3.86. 66,211,151 shares of the company traded hands, compared to its average volume of 27,085,859. Lloyds Banking Group plc has a one year low of $2.38 and a one year high of $3.88. The stock has a market cap of $58.55 billion, a price-to-earnings ratio of 11.68 and a beta of 1.31. The stock has a fifty day moving average price of $3.02 and a 200-day moving average price of $2.96.

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

Lloyds Banking Group Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, Morgan Stanley upgraded Lloyds Banking Group from an "equal weight" rating to an "overweight" rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $2.75.

Lloyds Banking Group Profile

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.